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. 1929 stock market crashed






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






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






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






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






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






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






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






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






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






11. Corporate offices






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






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






14. Let the people do as they please






15. 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.






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






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






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






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






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






21. Promote economic recovery in Europe.






22. Sears.






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






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






25. Worlds largest provider of computer software for desktops.






26. First college of business.






27. Could only hire union workers. Illegal






28. Income people could do with as the pleased.






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






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






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






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






33. Reduction in diversification. Reduction in layers of management.






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






35. Setting of prices by mangers of large firms.






36. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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






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






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






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






43. Formalized business practices by standardized management practices.






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






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






46. Most favored nation. Trade barriers raised.






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






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






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






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