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






2. Free trade between US - Canada - Mexico






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






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






5. Could only hire union workers. Illegal






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






7. Income people could do with as the pleased.






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






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






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






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






12. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






15. First college of business.






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






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






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






19. Reduction in diversification. Reduction in layers of management.






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






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






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






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






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






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






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






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






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






29. Committed her life to social reform - immigrant committee






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






31. Most women were stalled at middle management levels.






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






33. Promote economic recovery in Europe.






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






35. Corporate offices






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






37. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






39. Provided national advertising and mass production






40. Let the people do as they please






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






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






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






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






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






46. Inflation continued in the absence of robust economic growth.






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






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






49. Interstate Commerce Commission was strengthened. Regulated rates.






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