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






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






3. Free trade between US - Canada - Mexico






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






5. Could only hire union workers. Illegal






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






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






8. First college of business.






9. Corporate offices






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






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






12. Provided national advertising and mass production






13. Worlds largest provider of computer software for desktops.






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






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






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






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






18. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






19. Let the people do as they please






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






21. Background in railroad business. 1872 entered steel business. Sold to JP Morgan for $480 million dollars.






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






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






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






25. Promote economic recovery in Europe.






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






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






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






29. 1929 stock market crashed






30. Most women were stalled at middle management levels.






31. Interstate Commerce Commission was strengthened. Regulated rates.






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






33. Reduction in diversification. Reduction in layers of management.






34. Transportation. Airline Act. Rail Act. Motor Carrier Act.






35. 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.






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






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






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






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






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






41. Committed her life to social reform - immigrant committee






42. Setting of prices by mangers of large firms.






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






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






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






46. 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.






47. Congress established a national banking system.






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






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






50. Sears.