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






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






3. 1929 stock market crashed






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






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






6. First college of business.






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






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






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






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






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






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






13. Free trade between US - Canada - Mexico






14. Promote economic recovery in Europe.






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






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






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






18. Interstate Commerce Commission was strengthened. Regulated rates.






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






20. Let the people do as they please






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






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






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






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






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






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






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






28. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






30. Reduction in diversification. Reduction in layers of management.






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






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






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






34. Formalized business practices by standardized management practices.






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






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






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






38. Management could hire whomever they wanted but after a period of time. All workers had to join the union.






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






40. Committed her life to social reform - immigrant committee






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






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






43. Sears.






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






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






46. Income people could do with as the pleased.






47. Congress established a national banking system.






48. Gold drain; exchange rates; free floating






49. Setting of prices by mangers of large firms.






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