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






2. A position of balance between investors - employees - consumers - competitors - and all others who may be interested in attitudes of management.






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






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






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






6. Promote economic recovery in Europe.






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






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






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






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






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






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






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






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






15. Let the people do as they please






16. Provided national advertising and mass production






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






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






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






20. Formalized business practices by standardized management practices.






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






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






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






24. Free trade between US - Canada - Mexico






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






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






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






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






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






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






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






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






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






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






35. Reduction in diversification. Reduction in layers of management.






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






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






38. 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.






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






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






41. Worlds largest provider of computer software for desktops.






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






43. 1929 stock market crashed






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






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






46. Income people could do with as the pleased.






47. Gold drain; exchange rates; free floating






48. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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