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. Oil refining business. He was the first billionaire.






2. Gold drain; exchange rates; free floating






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






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






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






6. Workers would enjoy the rights of association and the ability to influence wage levels.






7. Income people could do with as the pleased.






8. 1929 stock market crashed






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






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






11. Setting of prices by mangers of large firms.






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






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






14. Corporate offices






15. First college of business.






16. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






18. Formalized business practices by standardized management practices.






19. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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






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






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






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






26. Most women were stalled at middle management levels.






27. Committed her life to social reform - immigrant committee






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






29. Use borrowed money to buy company. Sometimes used to take 'stock private'






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






31. Congress established a national banking system.






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






33. Reduction in diversification. Reduction in layers of management.






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






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






36. Most favored nation. Trade barriers raised.






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






38. Free trade between US - Canada - Mexico






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






40. Promote economic recovery in Europe.






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






42. Provided national advertising and mass production






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






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






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






46. 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.






47. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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