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






2. 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.






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






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






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






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






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






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






10. Most favored nation. Trade barriers raised.






11. Let the people do as they please






12. Income people could do with as the pleased.






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






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






15. Could only hire union workers. Illegal






16. Congress established a national banking system.






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






18. Sears.






19. Promote economic recovery in Europe.






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






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






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






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






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






25. Transportation. Airline Act. Rail Act. Motor Carrier Act.






26. Most women were stalled at middle management levels.






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






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






29. 1929 stock market crashed






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






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






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






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






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






35. First college of business.






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






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






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






39. Formalized business practices by standardized management practices.






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






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






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






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






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






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






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






47. Corporate offices






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






49. Gold drain; exchange rates; free floating






50. Creators of Microsoft