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Management 101: Business History

Subject : business-skills
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Promote economic recovery in Europe.






2. Congress established a national banking system.






3. Few companies combines forces to control production of sale of a product.






4. Oil refining business. He was the first billionaire.






5. Purchases right to do business and usually pays a franchise fee plus royalty fee based on sales.






6. Reduction in diversification. Reduction in layers of management.






7. Setting of prices by mangers of large firms.






8. Employers can hire whoever they want. Both union and non union.






9. Committed her life to social reform - immigrant committee






10. Burden of proof to raise rates was now the responsibility of the railroads.






11. Cooperative activity in the service of the public - exchanging information - eliminating waste - fostering labor management to improve the business system.






12. Business leaders sought to achieve cooperation among business - labor and government.






13. Creators of Microsoft






14. Management could hire whomever they wanted but after a period of time. All workers had to join the union.






15. 1929 stock market crashed






16. Influenced by Army. Staff officers-strategic decisions - Line officers-carried out orders in field.






17. Lowest tariffs - easiest access to markets - and fewest restrictions. Granted any nation - had to be all nations.






18. Restraints of trade. Railroads could not collaborate to fix prices. Wasn't used until the 20th century.






19. Father of Scientific Management. Studied individual tasks to make them more efficient. Used a stop watch to measure time it takes to complete a task.






20. Gold drain; exchange rates; free floating






21. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






22. Unsafe at any speed. Consumers should not automatically trust new products or the business that produced them.






23. Outlawed racial and gender discrimination; created equal employment opportunity; affected hiring; job security.






24. American firms were poised to dominate economic activity in a system of free trade.






25. A position of balance between investors - employees - consumers - competitors - and all others who may be interested in attitudes of management.






26. Set of values that placed a higher priority on the use of good than on their production.






27. Dept. of Justice and Federal Trade Commission. Companies could seek approval from federal gov't.






28. Use borrowed money to buy company. Sometimes used to take 'stock private'






29. Companies organized their activities around a strategy that integrated careful observation of changing consumer tastes with design production and distribution.






30. Programs intended to stabilize the economy while maintaining individual autonomy.






31. Worlds largest provider of computer software for desktops.






32. Set of attitudes and values that optimistically looked toward the erection of new institutions through which Americans would realize the good society.






33. Use of stock tender to offer to buy a company that did not want to sell.






34. Panic of 1907 - 5 members - foreign transactions went through NY.






35. Setting of the firms strategy according to realistic observations of available customers and then organizing the firm to coordinate production - distribution - sales and service according to these observations.






36. Started as a gun powder company - Rate of return.






37. Interstate Commerce Commission was strengthened. Regulated rates.






38. Control all aspects of an industry from raw materials to retail.






39. Defense department became a significant source for scientific and engineering. Led by private firms and university.






40. President. Standard oil - american tobacco - us steel.






41. Gov't involved in economy. Employment - interest money. Interest rates. Deficit spending.






42. Items purchased by consumers for use over more than a year or two.






43. Free trade between US - Canada - Mexico






44. Developed the assembly line. Anti Union. Model T.






45. Corporate offices






46. Transportation. Airline Act. Rail Act. Motor Carrier Act.






47. Trade associations fixed prices and thwarted competition in the interest of maximum efficiency.






48. Close banks to keep people from withdrawing all of their money and collapsing the banks.






49. Ultimate authority of nations economic well being shifted from private arena - to public arena.






50. Inflation continued in the absence of robust economic growth.






Can you answer 50 questions in 15 minutes?



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