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






2. Sears.






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






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






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






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






7. Most women were stalled at middle management levels.






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






9. Sec. of Treasury under lincoln. Father of national Banking system.






10. Creators of Microsoft






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






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






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






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






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






16. Promote economic recovery in Europe.






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






18. Could only hire union workers. Illegal






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






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






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






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






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






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






25. Free trade between US - Canada - Mexico






26. Income people could do with as the pleased.






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






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






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






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






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






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






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






34. Gold drain; exchange rates; free floating






35. Most favored nation. Trade barriers raised.






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






37. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






40. Worlds largest provider of computer software for desktops.






41. Committed her life to social reform - immigrant committee






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






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






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






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






46. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






49. 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.






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