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






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






3. Reduction in diversification. Reduction in layers of management.






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






5. Congress established a national banking system.






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






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






8. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






9. Creators of Microsoft






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






11. Promote economic recovery in Europe.






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






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






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






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






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






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






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






19. Setting of prices by mangers of large firms.






20. 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.






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






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






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






24. Most favored nation. Trade barriers raised.






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






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






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






28. Committed her life to social reform - immigrant committee






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






30. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






32. Provided national advertising and mass production






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






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






35. 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.






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






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






38. Free trade between US - Canada - Mexico






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






40. Corporate offices






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






42. First college of business.






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






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






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






46. Income people could do with as the pleased.






47. 1929 stock market crashed






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






49. Formalized business practices by standardized management practices.






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