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






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






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






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






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






6. Corporate offices






7. 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.






8. First college of business.






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






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






11. Formalized business practices by standardized management practices.






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






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






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






15. Worlds largest provider of computer software for desktops.






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






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






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






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






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






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






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






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






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






25. Transportation. Airline Act. Rail Act. Motor Carrier Act.






26. Provided national advertising and mass production






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






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






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






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






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






32. Dept. of Justice and Federal Trade Commission. Companies could seek approval from federal gov't.






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






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






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






36. Committed her life to social reform - immigrant committee






37. Dominated the retail industry by mail order only selling.






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






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






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






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






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






43. Congress established a national banking system.






44. Promote economic recovery in Europe.






45. Could only hire union workers. Illegal






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






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






48. Most women were stalled at middle management levels.






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






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