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






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






3. Reduction in diversification. Reduction in layers of management.






4. Committed her life to social reform - immigrant committee






5. 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.






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






7. Congress established a national banking system.






8. Gold drain; exchange rates; free floating






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






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






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






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






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






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






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






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






17. First college of business.






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






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






20. Provided national advertising and mass production






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






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






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






24. Free trade between US - Canada - Mexico






25. Worlds largest provider of computer software for desktops.






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






42. 1929 stock market crashed






43. Promote economic recovery in Europe.






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






45. Transportation. Airline Act. Rail Act. Motor Carrier Act.






46. Formalized business practices by standardized management practices.






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






48. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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