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






2. Provided national advertising and mass production






3. Creators of Microsoft






4. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






7. Setting of prices by mangers of large firms.






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






9. Could only hire union workers. Illegal






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






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






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






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






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






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






16. Income people could do with as the pleased.






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






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






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






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






21. 1929 stock market crashed






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






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






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






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






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






27. Sears.






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






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






30. Let the people do as they please






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






32. Worlds largest provider of computer software for desktops.






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






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






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






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






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






38. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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






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






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






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






45. Most favored nation. Trade barriers raised.






46. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






49. Free trade between US - Canada - Mexico






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