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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. 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.






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






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






4. Committed her life to social reform - immigrant committee






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






6. First college of business.






7. Worked divided by specific tasks. i.e. accounting - production - ect.






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






9. Most favored nation. Trade barriers raised.






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






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






12. Let the people do as they please






13. Gov't involved in economy. Employment - interest money. Interest rates. Deficit spending.






14. President. Standard oil - american tobacco - us steel.






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






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






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






18. Reduction in diversification. Reduction in layers of management.






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






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






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






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






23. Sears.






24. 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.






25. GM - Ford - and Chrysler dominated the market. GM=50% share






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






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






28. Income people could do with as the pleased.






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






30. Purchases right to do business and usually pays a franchise fee plus royalty fee based on sales.






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






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






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






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






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






36. Setting of prices by mangers of large firms.






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






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






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






40. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






41. Most women were stalled at middle management levels.






42. Formalized business practices by standardized management practices.






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






44. Worlds largest provider of computer software for desktops.






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






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






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






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






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






50. 1929 stock market crashed