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Test your basic knowledge |
Management 101: Business History
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Study First
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. American firms were poised to dominate economic activity in a system of free trade.
Marketing
Deregulation
Military Industrial Complex
Economic Prosperity
2. Partnership between business and government. Solve problems through scientific investigation. Society of Harmony
Open Prices
Welfare Capitalism
Corporation
Salmon Chase
3. Outlawed racial and gender discrimination; created equal employment opportunity; affected hiring; job security.
Marketing
Civil Rights Act
Military Industrial Complex
Oligopoly
4. Cooperative activity in the service of the public - exchanging information - eliminating waste - fostering labor management to improve the business system.
Business Bureaucracies
Bill Gates - Paul Allen
New Individualism
Laissez Faire
5. Panic of 1907 - 5 members - foreign transactions went through NY.
Richard T. Ely
1913 Federal Reserve Board
Bill Gates - Paul Allen
Managerial Revolution
6. Set of values that placed a higher priority on the use of good than on their production.
Marketing
Monetarism
Functional Departmentalization
Consumerism
7. Lowest tariffs - easiest access to markets - and fewest restrictions. Granted any nation - had to be all nations.
Employment & Production Act
Populism
Ralph Nader
Most Favorited Nation
8. Started as a gun powder company - Rate of return.
Bank Holidays
Mann-Elkins Act
Du Pont
Franklin Roosevelt
9. Unemployment rose to 25%; 110 - 000 business failed; Bank Holidays
Franklin Roosevelt
The Great Depression
Trade
Richard T. Ely
10. Let the people do as they please
Monetarism
Most Favorited Nation
Functional Departmentalization
Laissez Faire
11. Formalized business practices by standardized management practices.
Henry Ford
Disposable Income
Managerial Revolution
Business Bureaucracies
12. Workers would enjoy the rights of association and the ability to influence wage levels.
Currency
Industrial Democracy
Associative State
Corporation
13. Restraints of trade. Railroads could not collaborate to fix prices. Wasn't used until the 20th century.
Sherman Anti-Trust Act
Hostile Takeover
Mann-Elkins Act
Military Industrial Complex
14. Paper currency issued by the government to finance to civil war.
Green Backs
NAFTA
Mircosoft
Booming American Automobile Industry
15. Set of attitudes and values that optimistically looked toward the erection of new institutions through which Americans would realize the good society.
Industrial Democracy
Military Industrial Complex
Progressivism
Hostile Takeover
16. Could only hire union workers. Illegal
Civil War
Closed Shop
Bank Holidays
1913 Federal Reserve Board
17. Inflation continued in the absence of robust economic growth.
Organization of Petroleum Exporting Countries
Stagflation
Open Shop
Francis Kellor
18. Use borrowed money to buy company. Sometimes used to take 'stock private'
Bill Gates - Paul Allen
Du Pont
Leveraged Buyout
Progressivism
19. Retailer - mail-order companies. Name brand products - advertising - catalogs.
Most Favorited Nation
Stagflation
Mircosoft
Mass Industry
20. Oil supplies withheld; large - non fuel efficient car; More japanese cars sold; Ford - Chevy - Chrysler
Organization of Petroleum Exporting Countries
Welfare Capitalism
Sherman Anti-Trust Act
Horizontal Integration
21. Oil refining business. He was the first billionaire.
Mann-Elkins Act
Henry Ford
Business Bureaucracies
John D. Rockafeller
22. Leader of the new school economists. Rejected Laissez faire. Did not believe in government run business.
Civil Rights Act
Corporation
Horizontal Integration
Richard T. Ely
23. Companies organized their activities around a strategy that integrated careful observation of changing consumer tastes with design production and distribution.
Administrative pricing
Marketing
Corporate Management
Stagflation
24. Creators of Microsoft
Closed Shop
Marketing
Bill Gates - Paul Allen
Sears
25. President;FDIC;Closed all banks on first day in office;only president to serve four terms.
Green Backs
NAFTA
Open Shop
Franklin Roosevelt
26. Sought to break up the control of big business to create more opportunities.
Employment & Production Act
Populism
Open Shop
Union Shop
27. Dept. of Justice and Federal Trade Commission. Companies could seek approval from federal gov't.
Anti-trust Policy
Stagflation
Organization of Petroleum Exporting Countries
Sherman Anti-Trust Act
28. Business leaders sought to achieve cooperation among business - labor and government.
Corporatism
Mircosoft
Franklin Roosevelt
Vertical Integration
29. Urged the gov't to control the money supply in order to control inflation.
Gilded Age
Mann-Elkins Act
Monetarism
Associative State
30. Employers can hire whoever they want. Both union and non union.
Administrative pricing
Currency
Vertical Integration
Open Shop
31. Defense department became a significant source for scientific and engineering. Led by private firms and university.
Civil War
Military Industrial Complex
Most Favorited Nation
Laissez Faire
32. Interstate Commerce Commission was strengthened. Regulated rates.
University of PA
Gilded Age
Hepburn Act
Industrial Democracy
33. Most favored nation. Trade barriers raised.
Trade
Bank Holidays
Richard T. Ely
Monetarism
34. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class
Laissez Faire
Monetarism
Hepburn Act
Gilded Age
35. Sears.
John D. Rockafeller
Military Industrial Complex 2
Taft Hartley Act
Montgomery Ward
36. Burden of proof to raise rates was now the responsibility of the railroads.
Mann-Elkins Act
Military Industrial Complex 2
1913 Federal Reserve Board
Montgomery Ward
37. Developed the assembly line. Anti Union. Model T.
Herbert Hoover
Franchisee
Henry Ford
Anti-trust Policy
38. Items purchased by consumers for use over more than a year or two.
Functional Departmentalization
New Individualism
NAFTA
Consumer Durables
39. Goal was to represent the interests of American business in general.
U.S Chamber of Commerce
Consumerism
Keynes Economic Theory
Progressivism
40. Sec. of Treasury under lincoln. Father of national Banking system.
Taft Hartley Act
Hepburn Act
Ralph Nader
Salmon Chase
41. Gold drain; exchange rates; free floating
Managerial Revolution
1913 Federal Reserve Board
Civil War
Currency
42. Background in railroad business. 1872 entered steel business. Sold to JP Morgan for $480 million dollars.
Civil War
Disposable Income
Andrew Carnegie
Conglomerates
43. First college of business.
Consequences of Mergers
Mircosoft
Social Responsibility
University of PA
44. 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.
Sherman Anti-Trust Act
Frederick Taylor
Francis Kellor
Consumer Durables
45. Ultimate authority of nations economic well being shifted from private arena - to public arena.
Gilded Age
Franchisee
Civil Rights Act
Employment & Production Act
46. Transportation. Airline Act. Rail Act. Motor Carrier Act.
Deregulation
Anti-trust Policy
Andrew Carnegie
Vertical Integration
47. Companies would act responsibility toward the American public on matters as truth in advertising. Hiring of woman.
Mircosoft
Francis Kellor
Post-Industrial Economy
Social Responsibility
48. Dominated the retail industry by mail order only selling.
Sears
Military Industrial Complex
Francis Kellor
Frederick Taylor
49. Use of stock tender to offer to buy a company that did not want to sell.
NAFTA
Civil Rights Act
Hostile Takeover
Progressivism
50. Unsafe at any speed. Consumers should not automatically trust new products or the business that produced them.
Administrative pricing
Taft Hartley Act
Ralph Nader
Anti-trust Policy