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. Worlds largest provider of computer software for desktops.






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






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






4. Creators of Microsoft






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






6. Income people could do with as the pleased.






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






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






9. Formalized business practices by standardized management practices.






10. Companies had the right to manage. Union leaders.






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






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






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






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






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






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






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






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






19. Congress established a national banking system.






20. Could only hire union workers. Illegal






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






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






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






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






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






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






27. Reduction in diversification. Reduction in layers of management.






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






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






30. Setting of prices by mangers of large firms.






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






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






33. Provided national advertising and mass production






34. 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.






35. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






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






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






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






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






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






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






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






47. Let the people do as they please






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






49. Gold drain; exchange rates; free floating






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