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. 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.






2. Provided national advertising and mass production






3. First college of business.






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






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






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






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






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






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






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






11. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






12. Income people could do with as the pleased.






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






14. Gold drain; exchange rates; free floating






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






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






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






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






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






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






21. 1929 stock market crashed






22. Most women were stalled at middle management levels.






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






24. Committed her life to social reform - immigrant committee






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






26. Transportation. Airline Act. Rail Act. Motor Carrier Act.






27. Sears.






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






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






30. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






33. Formalized business practices by standardized management practices.






34. Let the people do as they please






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






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






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






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






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






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






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






42. Setting of prices by mangers of large firms.






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






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






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






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






47. 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.






48. Free trade between US - Canada - Mexico






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






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