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. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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






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






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






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






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






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






10. Gold drain; exchange rates; free floating






11. Most favored nation. Trade barriers raised.






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






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






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






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






16. Provided national advertising and mass production






17. Influenced by Army. Staff officers-strategic decisions - Line officers-carried out orders in field.






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






19. 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.






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






21. Promote economic recovery in Europe.






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






23. Creators of Microsoft






24. Setting of prices by mangers of large firms.






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






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






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






28. Congress established a national banking system.






29. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






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






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






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






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






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






39. Committed her life to social reform - immigrant committee






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






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






42. Worlds largest provider of computer software for desktops.






43. First college of business.






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






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






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






47. Formalized business practices by standardized management practices.






48. Let the people do as they please






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






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