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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. Oil refining business. He was the first billionaire.






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






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






4. Provided national advertising and mass production






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






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






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






8. Promote economic recovery in Europe.






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






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






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






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






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






14. Most women were stalled at middle management levels.






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






16. Income people could do with as the pleased.






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






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






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






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






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






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






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






24. Setting of prices by mangers of large firms.






25. Corporate offices






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






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






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






29. 1929 stock market crashed






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






31. Congress established a national banking system.






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






33. First college of business.






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






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






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






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






38. Most favored nation. Trade barriers raised.






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






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






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






42. Let the people do as they please






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






44. Transportation. Airline Act. Rail Act. Motor Carrier Act.






45. Reduction in diversification. Reduction in layers of management.






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






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






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






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






50. Sears.







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Can you answer 50 questions in 15 minutes?


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