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






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






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






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






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






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






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






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






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






10. Let the people do as they please






11. Formalized business practices by standardized management practices.






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






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






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






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






16. Could only hire union workers. Illegal






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






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






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






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






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






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






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






24. Creators of Microsoft






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






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






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






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






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






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






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






32. Interstate Commerce Commission was strengthened. Regulated rates.






33. Most favored nation. Trade barriers raised.






34. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






35. Sears.






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






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






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






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






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






41. Gold drain; exchange rates; free floating






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






43. First college of business.






44. 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.






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






46. Transportation. Airline Act. Rail Act. Motor Carrier Act.






47. Companies would act responsibility toward the American public on matters as truth in advertising. Hiring of woman.






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






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






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