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






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






3. Could only hire union workers. Illegal






4. Promote economic recovery in Europe.






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






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






7. Sears.






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






9. Free trade between US - Canada - Mexico






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






11. Formalized business practices by standardized management practices.






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






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






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






15. Creators of Microsoft






16. Income people could do with as the pleased.






17. Interstate Commerce Commission was strengthened. Regulated rates.






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






19. Committed her life to social reform - immigrant committee






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






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






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






23. Transportation. Airline Act. Rail Act. Motor Carrier Act.






24. Most women were stalled at middle management levels.






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






26. Most favored nation. Trade barriers raised.






27. 1929 stock market crashed






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






29. Alliance among public agencies - private firms and trade associations to handle international competitions.






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






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






32. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






34. Provided national advertising and mass production






35. Gold drain; exchange rates; free floating






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






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






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






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






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






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






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






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






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






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






46. Reduction in diversification. Reduction in layers of management.






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






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






49. Setting of prices by mangers of large firms.






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