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Management 101: Business History

Subject : business-skills
Instructions:
  • Answer 50 questions in 15 minutes.
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  • Match each statement with the correct term.
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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. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






4. Let the people do as they please






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






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






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






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






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






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






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






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






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






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






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






16. Promote economic recovery in Europe.






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






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






19. 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.






20. Provided national advertising and mass production






21. First college of business.






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






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






24. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






27. Setting of prices by mangers of large firms.






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






29. 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.






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






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






32. Most favored nation. Trade barriers raised.






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






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






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






36. Creators of Microsoft






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






38. Could only hire union workers. Illegal






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






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






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






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






43. Worlds largest provider of computer software for desktops.






44. Free trade between US - Canada - Mexico






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






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






47. 1929 stock market crashed






48. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






50. Gold drain; exchange rates; free floating







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