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






2. Most favored nation. Trade barriers raised.






3. Transportation. Airline Act. Rail Act. Motor Carrier Act.






4. Committed her life to social reform - immigrant committee






5. Formalized business practices by standardized management practices.






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






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






8. Free trade between US - Canada - Mexico






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






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






11. Congress established a national banking system.






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






13. Corporate offices






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






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






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






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






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






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. Could only hire union workers. Illegal






21. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






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






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






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






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






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






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






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






33. A position of balance between investors - employees - consumers - competitors - and all others who may be interested in attitudes of management.






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






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






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






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






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






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






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






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






42. Promote economic recovery in Europe.






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






44. First college of business.






45. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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






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






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