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. 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.






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






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






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






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






6. Most women were stalled at middle management levels.






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






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






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






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






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






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






13. Let the people do as they please






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






15. Sears.






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






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






18. Committed her life to social reform - immigrant committee






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






20. Corporate offices






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






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






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






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






25. Provided national advertising and mass production






26. Promote economic recovery in Europe.






27. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






31. First college of business.






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






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






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






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






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






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






38. Reduction in diversification. Reduction in layers of management.






39. Worlds largest provider of computer software for desktops.






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






41. Setting of prices by mangers of large firms.






42. 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.






43. Interstate Commerce Commission was strengthened. Regulated rates.






44. Most favored nation. Trade barriers raised.






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






46. Gold drain; exchange rates; free floating






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






48. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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