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. Income people could do with as the pleased.






2. Setting of prices by mangers of large firms.






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






4. Promote economic recovery in Europe.






5. Most favored nation. Trade barriers raised.






6. Could only hire union workers. Illegal






7. Provided national advertising and mass production






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






9. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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






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






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






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






16. Corporate offices






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






18. First college of business.






19. 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.






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






21. 1929 stock market crashed






22. Creators of Microsoft






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






24. Reduction in diversification. Reduction in layers of management.






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






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






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






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






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






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






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






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






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






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






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






36. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






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






41. Free trade between US - Canada - Mexico






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






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






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






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






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






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






48. Congress established a national banking system.






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






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