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






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






3. 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.






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






5. Gold drain; exchange rates; free floating






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






7. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






11. Interstate Commerce Commission was strengthened. Regulated rates.






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






13. Sears.






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






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






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






17. 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.






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






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






20. 1929 stock market crashed






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






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






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






24. Reduction in diversification. Reduction in layers of management.






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






26. Could only hire union workers. Illegal






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






28. Corporate offices






29. Provided national advertising and mass production






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






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






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






33. Congress established a national banking system.






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






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






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






37. Promote economic recovery in Europe.






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






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






40. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






41. Worlds largest provider of computer software for desktops.






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






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






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






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






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






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






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






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






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