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






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






3. 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.






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






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






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






7. Corporate offices






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






9. Most favored nation. Trade barriers raised.






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






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






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






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






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






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






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






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






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






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






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






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






22. Creators of Microsoft






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






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






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






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






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






28. Reduction in diversification. Reduction in layers of management.






29. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






30. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






32. Formalized business practices by standardized management practices.






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






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






35. Could only hire union workers. Illegal






36. Provided national advertising and mass production






37. Setting of prices by mangers of large firms.






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






39. Congress established a national banking system.






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






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






42. First college of business.






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






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






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






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






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






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






49. Gold drain; exchange rates; free floating






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