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. 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.






2. First college of business.






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






4. Provided national advertising and mass production






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






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






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






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






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






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






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






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






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






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






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






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






17. Most women were stalled at middle management levels.






18. Congress established a national banking system.






19. Sears.






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






21. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






22. Formalized business practices by standardized management practices.






23. Gold drain; exchange rates; free floating






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






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






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






27. Income people could do with as the pleased.






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






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






30. Committed her life to social reform - immigrant committee






31. 1929 stock market crashed






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






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






34. Promote economic recovery in Europe.






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






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






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






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






39. Creators of Microsoft






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






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






42. President;FDIC;Closed all banks on first day in office;only president to serve four terms.






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






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






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






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






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






48. Worlds largest provider of computer software for desktops.






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






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