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






2. Could only hire union workers. Illegal






3. Gold drain; exchange rates; free floating






4. Transportation. Airline Act. Rail Act. Motor Carrier Act.






5. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






10. Worlds largest provider of computer software for desktops.






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






12. Promote economic recovery in Europe.






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






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






15. Sears.






16. First college of business.






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






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






19. 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.






20. Income people could do with as the pleased.






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






22. Let the people do as they please






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






24. 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.






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






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






27. Congress established a national banking system.






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






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






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






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






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






33. Dominated the retail industry by mail order only selling.






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






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






36. Most favored nation. Trade barriers raised.






37. Creators of Microsoft






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






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






40. Setting of prices by mangers of large firms.






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






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






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






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






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






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






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






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






49. Most women were stalled at middle management levels.






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