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. 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.






2. 1929 stock market crashed






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






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






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






6. Interstate Commerce Commission was strengthened. Regulated rates.






7. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






11. Setting of prices by mangers of large firms.






12. Congress established a national banking system.






13. Most favored nation. Trade barriers raised.






14. Free trade between US - Canada - Mexico






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






16. Gold drain; exchange rates; free floating






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






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






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






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






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






22. Most women were stalled at middle management levels.






23. Could only hire union workers. Illegal






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






25. Formalized business practices by standardized management practices.






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






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






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






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






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






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






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






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






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






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






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






37. 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.






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






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






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






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






42. Provided national advertising and mass production






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






44. Let the people do as they please






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






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






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






48. Promote economic recovery in Europe.






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






50. Corporate offices