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






2. Reduction in diversification. Reduction in layers of management.






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






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






5. Gold drain; exchange rates; free floating






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






7. Worlds largest provider of computer software for desktops.






8. Interstate Commerce Commission was strengthened. Regulated rates.






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






10. Let the people do as they please






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






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






13. Provided national advertising and mass production






14. Formalized business practices by standardized management practices.






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






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






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






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






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






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






21. Could only hire union workers. Illegal






22. 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.






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






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






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






26. Lowest tariffs - easiest access to markets - and fewest restrictions. Granted any nation - had to be all nations.






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






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






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






30. Promote economic recovery in Europe.






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






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






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






34. Congress established a national banking system.






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






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






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






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






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






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






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






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






43. Creators of Microsoft






44. Income people could do with as the pleased.






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






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






47. Most women were stalled at middle management levels.






48. Most favored nation. Trade barriers raised.






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






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