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






3. Worlds largest provider of computer software for desktops.






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






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






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






7. Could only hire union workers. Illegal






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






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






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






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






12. Income people could do with as the pleased.






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






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






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






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






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






18. Formalized business practices by standardized management practices.






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






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






21. Promote economic recovery in Europe.






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






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






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






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






26. First college of business.






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






28. Provided national advertising and mass production






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






30. 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.






31. Alliance among public agencies - private firms and trade associations to handle international competitions.






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






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






34. Creators of Microsoft






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






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






37. Most favored nation. Trade barriers raised.






38. Interstate Commerce Commission was strengthened. Regulated rates.






39. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






43. Urged the gov't to control the money supply in order to control inflation.






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






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






46. Free trade between US - Canada - Mexico






47. Setting of prices by mangers of large firms.






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






49. Reduction in diversification. Reduction in layers of management.






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