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. Sears.






2. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






3. First college of business.






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






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






6. Free trade between US - Canada - Mexico






7. Gold drain; exchange rates; free floating






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






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






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






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






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






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






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






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






16. 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.






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






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






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






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






21. Most women were stalled at middle management levels.






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






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






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






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






26. Corporate offices






27. Reduction in diversification. Reduction in layers of management.






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






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






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






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






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






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






34. Setting of prices by mangers of large firms.






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






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






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






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






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






40. Let the people do as they please






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






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






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






44. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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






48. Worlds largest provider of computer software for desktops.






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






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