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






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






3. Could only hire union workers. Illegal






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






5. Let the people do as they please






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






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






8. Creators of Microsoft






9. 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.






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






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






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






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






14. Committed her life to social reform - immigrant committee






15. Worlds largest provider of computer software for desktops.






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






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






18. First college of business.






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






20. Reduction in diversification. Reduction in layers of management.






21. Promote economic recovery in Europe.






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






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






24. Setting of prices by mangers of large firms.






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






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






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






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






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






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






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






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






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






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






35. Congress established a national banking system.






36. Provided national advertising and mass production






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






38. Formalized business practices by standardized management practices.






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






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






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






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






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






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






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






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






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






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






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






50. Gold drain; exchange rates; free floating