Test your basic knowledge |

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. Provided national advertising and mass production






2. Companies would act responsibility toward the American public on matters as truth in advertising. Hiring of woman.






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






4. Increase consumer durables; increase service industries; trade - finance - transportation - and gov't






5. Could only hire union workers. Illegal






6. Background in railroad business. 1872 entered steel business. Sold to JP Morgan for $480 million dollars.






7. Companies had the right to manage. Union leaders.






8. Creators of Microsoft






9. Urged the gov't to control the money supply in order to control inflation.






10. Interstate Commerce Commission was strengthened. Regulated rates.






11. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






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






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






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






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






19. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






20. Congress established a national banking system.






21. Partnership between business and government. Solve problems through scientific investigation. Society of Harmony






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






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






24. Let the people do as they please






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






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






27. Worked divided by specific tasks. i.e. accounting - production - ect.






28. A few firms dominate an industry. Price competition decreased.






29. GM - Ford - and Chrysler dominated the market. GM=50% share






30. Dominated the retail industry by mail order only selling.






31. Most favored nation. Trade barriers raised.






32. President;FDIC;Closed all banks on first day in office;only president to serve four terms.






33. Oil supplies withheld; large - non fuel efficient car; More japanese cars sold; Ford - Chevy - Chrysler






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






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






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






37. Formalized business practices by standardized management practices.






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






39. Gold drain; exchange rates; free floating






40. Companies with many different divisions - usually 8 or more that make up and sell unrelated products.






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






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






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






44. Worlds largest provider of computer software for desktops.






45. Free trade between US - Canada - Mexico






46. Business - not independent trade unions should look after the best interest of the workers.






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






48. Unemployment rose to 25%; 110 - 000 business failed; Bank Holidays






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






50. Leader of the new school economists. Rejected Laissez faire. Did not believe in government run business.