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






2. Gold drain; exchange rates; free floating






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






4. Corporate offices






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






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






7. Free trade between US - Canada - Mexico






8. Sears.






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






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






11. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






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






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






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






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






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






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






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






23. 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.






24. Formalized business practices by standardized management practices.






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






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






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






28. Income people could do with as the pleased.






29. Interstate Commerce Commission was strengthened. Regulated rates.






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






31. Promote economic recovery in Europe.






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






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






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






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






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






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






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






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






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






41. Most favored nation. Trade barriers raised.






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






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






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






45. Creators of Microsoft






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






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






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






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






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







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