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






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






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






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






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






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






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






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






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






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






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






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






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






14. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






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






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






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






21. Could only hire union workers. Illegal






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






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






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






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






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






27. Let the people do as they please






28. Promote economic recovery in Europe.






29. 1929 stock market crashed






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






31. Corporate offices






32. Sears.






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






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






35. Free trade between US - Canada - Mexico






36. Most favored nation. Trade barriers raised.






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






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






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






40. Formalized business practices by standardized management practices.






41. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






46. Income people could do with as the pleased.






47. Most women were stalled at middle management levels.






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






49. Reduction in diversification. Reduction in layers of management.






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