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. Most women were stalled at middle management levels.






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






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






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






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






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






7. Goal was to represent the interests of American business in general.






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






9. Sought to break up the control of big business to create more opportunities.






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






11. Eisenhower termed. Large companies received majority or military contracts. California boomed because of defense companies.






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






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






14. Gold drain; exchange rates; free floating






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






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






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






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






19. Sears.






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






21. Promote economic recovery in Europe.






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






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






24. Transportation. Airline Act. Rail Act. Motor Carrier Act.






25. Retailer - mail-order companies. Name brand products - advertising - catalogs.






26. Paper currency issued by the government to finance to civil war.






27. Workers would enjoy the rights of association and the ability to influence wage levels.






28. Congress established a national banking system.






29. 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.






30. Let the people do as they please






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






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






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






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






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






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






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






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






39. 1929 stock market crashed






40. Interstate Commerce Commission was strengthened. Regulated rates.






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






42. Formalized business practices by standardized management practices.






43. Committed her life to social reform - immigrant committee






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






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






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






47. Creators of Microsoft






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






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






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