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






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






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






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






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






6. Could only hire union workers. Illegal






7. Sears.






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






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






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






11. Urged the gov't to control the money supply in order to control inflation.






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






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






14. 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.






15. Committed her life to social reform - immigrant committee






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






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






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






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






20. Provided national advertising and mass production






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






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






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






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






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






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






27. Creators of Microsoft






28. 1929 stock market crashed






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






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






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






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






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






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






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






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






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






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






39. Most favored nation. Trade barriers raised.






40. American firms were poised to dominate economic activity in a system of free trade.






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






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






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






44. Promote economic recovery in Europe.






45. Gold drain; exchange rates; free floating






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






47. Free trade between US - Canada - Mexico






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






49. Formalized business practices by standardized management practices.






50. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class