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






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






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






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






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






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






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






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






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






10. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






13. Income people could do with as the pleased.






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






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






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






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






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






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






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






22. Could only hire union workers. Illegal






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






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






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






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






27. Most favored nation. Trade barriers raised.






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






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






30. 1929 stock market crashed






31. Free trade between US - Canada - Mexico






32. Promote economic recovery in Europe.






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






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






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






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






37. Reduction in diversification. Reduction in layers of management.






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






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






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






41. Worlds largest provider of computer software for desktops.






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






43. Set of attitudes and values that optimistically looked toward the erection of new institutions through which Americans would realize the good society.






44. Let the people do as they please






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






46. Gold drain; exchange rates; free floating






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






48. Corporate offices






49. Committed her life to social reform - immigrant committee






50. Sears.