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






2. Most favored nation. Trade barriers raised.






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






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






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






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






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






8. Formalized business practices by standardized management practices.






9. Reduction in diversification. Reduction in layers of management.






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






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






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






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






14. Could only hire union workers. Illegal






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






16. Transportation. Airline Act. Rail Act. Motor Carrier Act.






17. Free trade between US - Canada - Mexico






18. Corporate offices






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






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






21. 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.






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






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






24. Committed her life to social reform - immigrant committee






25. Gold drain; exchange rates; free floating






26. Interstate Commerce Commission was strengthened. Regulated rates.






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






28. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






32. Let the people do as they please






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






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






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






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






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






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






39. Income people could do with as the pleased.






40. Setting of prices by mangers of large firms.






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






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






43. Congress established a national banking system.






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






45. 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.






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






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






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






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






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