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






2. Most favored nation. Trade barriers raised.






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






4. Interstate Commerce Commission was strengthened. Regulated rates.






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






6. Free trade between US - Canada - Mexico






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






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






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






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






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






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






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






14. Provided national advertising and mass production






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






16. Creators of Microsoft






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






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






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






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






21. First college of business.






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






23. Committed her life to social reform - immigrant committee






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






26. Promote economic recovery in Europe.






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






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






29. A position of balance between investors - employees - consumers - competitors - and all others who may be interested in attitudes of management.






30. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






33. Income people could do with as the pleased.






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






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






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






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






38. 1929 stock market crashed






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






40. Setting of prices by mangers of large firms.






41. 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.






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






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






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






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






46. Could only hire union workers. Illegal






47. Formalized business practices by standardized management practices.






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






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






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