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. Could only hire union workers. Illegal






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






3. Gold drain; exchange rates; free floating






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






5. Promote economic recovery in Europe.






6. Reduction in diversification. Reduction in layers of management.






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






8. Creators of Microsoft






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






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






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






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






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






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






15. Worlds largest provider of computer software for desktops.






16. 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.






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






18. First college of business.






19. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






22. Provided national advertising and mass production






23. Income people could do with as the pleased.






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






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






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






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






28. Free trade between US - Canada - Mexico






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






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






31. Formalized business practices by standardized management practices.






32. Setting of prices by mangers of large firms.






33. 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.






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






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






36. Congress established a national banking system.






37. Sears.






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






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






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






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






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






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






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






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






46. Committed her life to social reform - immigrant committee






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






48. Corporate offices






49. 1929 stock market crashed






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