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. Worlds largest provider of computer software for desktops.






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






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






4. Formalized business practices by standardized management practices.






5. 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.






6. Gold drain; exchange rates; free floating






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






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






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






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






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






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






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






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






15. Setting of prices by mangers of large firms.






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






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






18. Free trade between US - Canada - Mexico






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






20. Could only hire union workers. Illegal






21. 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.






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






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






24. Promote economic recovery in Europe.






25. Most women were stalled at middle management levels.






26. Let the people do as they please






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






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






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






30. First college of business.






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






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






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






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






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






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






37. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






38. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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






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






43. 1929 stock market crashed






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






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






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






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






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






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






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