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






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






3. Income people could do with as the pleased.






4. Corporate offices






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






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






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






8. 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.






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






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






11. Provided national advertising and mass production






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






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






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






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






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






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






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. Free trade between US - Canada - Mexico






20. 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.






21. Most favored nation. Trade barriers raised.






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






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






24. Reduction in diversification. Reduction in layers of management.






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






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






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






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






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






30. Setting of prices by mangers of large firms.






31. Sears.






32. Committed her life to social reform - immigrant committee






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






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






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






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






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






38. Worlds largest provider of computer software for desktops.






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






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






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






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






43. Could only hire union workers. Illegal






44. First college of business.






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






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






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






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






49. Let the people do as they please






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







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Can you answer 50 questions in 15 minutes?


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