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






2. Sears.






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






4. Provided national advertising and mass production






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






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






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






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






9. Gold drain; exchange rates; free floating






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






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






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






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






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






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






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






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






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






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






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






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






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






23. Transportation. Airline Act. Rail Act. Motor Carrier Act.






24. Setting of prices by mangers of large firms.






25. Formalized business practices by standardized management practices.






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






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






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






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






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






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






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






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






34. Creators of Microsoft






35. Let the people do as they please






36. First college of business.






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






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






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






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






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






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






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






44. Worlds largest provider of computer software for desktops.






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






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






47. 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.






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






49. Could only hire union workers. Illegal






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