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






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






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






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






5. Setting of prices by mangers of large firms.






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






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






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






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






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






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






12. Most favored nation. Trade barriers raised.






13. 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.






14. Provided national advertising and mass production






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






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






17. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






20. Worlds largest provider of computer software for desktops.






21. 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.






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






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






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






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






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






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






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






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






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






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






32. Creators of Microsoft






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






34. Let the people do as they please






35. Formalized business practices by standardized management practices.






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






37. Could only hire union workers. Illegal






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






39. Committed her life to social reform - immigrant committee






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






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






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






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






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






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






46. Sears.






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






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






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






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







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