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






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






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






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






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






6. Most favored nation. Trade barriers raised.






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






8. Could only hire union workers. Illegal






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






10. Formalized business practices by standardized management practices.






11. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






14. Creators of Microsoft






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






16. Setting of prices by mangers of large firms.






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






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






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






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






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






22. Gold drain; exchange rates; free floating






23. Worlds largest provider of computer software for desktops.






24. Congress established a national banking system.






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






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






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






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






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






30. Provided national advertising and mass production






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






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






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






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






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






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






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






38. Sears.






39. First college of business.






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






41. Interstate Commerce Commission was strengthened. Regulated rates.






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






43. Free trade between US - Canada - Mexico






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






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






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






47. 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.






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






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






50. Promote economic recovery in Europe.