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






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






3. Sears.






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






5. Reduction in diversification. Reduction in layers of management.






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






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






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






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






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






11. Setting of prices by mangers of large firms.






12. Provided national advertising and mass production






13. Free trade between US - Canada - Mexico






14. Let the people do as they please






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






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






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






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






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






20. Could only hire union workers. Illegal






21. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






24. Leader of the new school economists. Rejected Laissez faire. Did not believe in government run business.






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






26. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






28. Income people could do with as the pleased.






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






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






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






32. Congress established a national banking system.






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






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






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






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






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






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






39. Gold drain; exchange rates; free floating






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






41. 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.






42. Most women were stalled at middle management levels.






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






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






45. Worlds largest provider of computer software for desktops.






46. Interstate Commerce Commission was strengthened. Regulated rates.






47. Corporate offices






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






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






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







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