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






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






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






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






5. 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.






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






7. Setting of prices by mangers of large firms.






8. 1929 stock market crashed






9. Promote economic recovery in Europe.






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






11. Formalized business practices by standardized management practices.






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






13. Reduction in diversification. Reduction in layers of management.






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






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






16. 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.






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






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






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






20. Free trade between US - Canada - Mexico






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






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






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






24. Worlds largest provider of computer software for desktops.






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






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






27. Income people could do with as the pleased.






28. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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






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






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






34. Sears.






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






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






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






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






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






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






41. Congress established a national banking system.






42. Creators of Microsoft






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






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






45. Committed her life to social reform - immigrant committee






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






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






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






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






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