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






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






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






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






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






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






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






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






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






10. Most women were stalled at middle management levels.






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






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






13. Setting of prices by mangers of large firms.






14. Corporate offices






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






16. First college of business.






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






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






19. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






21. Free trade between US - Canada - Mexico






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






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






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






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






26. 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.






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






28. 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.






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






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






31. 1929 stock market crashed






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






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






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






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






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






37. Could only hire union workers. Illegal






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






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






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






41. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






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






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






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






49. Creators of Microsoft






50. Reduction in diversification. Reduction in layers of management.