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






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






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






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






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






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






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






8. Most women were stalled at middle management levels.






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






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






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






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






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






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






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






16. Could only hire union workers. Illegal






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






18. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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






22. 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.






23. Provided national advertising and mass production






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






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






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






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






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






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






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






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






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






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






34. Corporate offices






35. First college of business.






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






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






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






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






40. Income people could do with as the pleased.






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






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






43. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






48. Congress established a national banking system.






49. Let the people do as they please






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