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






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






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






4. Formalized business practices by standardized management practices.






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






6. Committed her life to social reform - immigrant committee






7. Gold drain; exchange rates; free floating






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






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






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






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






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






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






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






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






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






17. Promote economic recovery in Europe.






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






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






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






21. Income people could do with as the pleased.






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






23. Congress established a national banking system.






24. Let the people do as they please






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






26. Interstate Commerce Commission was strengthened. Regulated rates.






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






28. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






31. Could only hire union workers. Illegal






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






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






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






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






36. Provided national advertising and mass production






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






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






39. 1929 stock market crashed






40. Reduction in diversification. Reduction in layers of management.






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






42. 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.






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






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






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






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






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






48. First college of business.






49. 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.






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