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






2. Formalized business practices by standardized management practices.






3. Income people could do with as the pleased.






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






5. 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.






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






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






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






9. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






13. Committed her life to social reform - immigrant committee






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






15. Promote economic recovery in Europe.






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






17. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






20. Most women were stalled at middle management levels.






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






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






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






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






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






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






27. First college of business.






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






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






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






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






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






33. Worlds largest provider of computer software for desktops.






34. Corporate offices






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






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






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






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






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






40. Congress established a national banking system.






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






42. Could only hire union workers. Illegal






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






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






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






46. Gold drain; exchange rates; free floating






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






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






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






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