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






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






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






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






5. Provided national advertising and mass production






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






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






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






9. Corporate offices






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






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






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






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






14. Let the people do as they please






15. 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.






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






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






18. Setting of prices by mangers of large firms.






19. Most women were stalled at middle management levels.






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






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






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






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






24. Worlds largest provider of computer software for desktops.






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






26. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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






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






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






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






33. Congress established a national banking system.






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






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






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






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






38. 1929 stock market crashed






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






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






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






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






43. Gold drain; exchange rates; free floating






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






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






46. 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.






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






48. First college of business.






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






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