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






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






3. Let the people do as they please






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






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






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






7. 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.






8. Setting of prices by mangers of large firms.






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






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






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






12. Creators of Microsoft






13. First college of business.






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






15. Formalized business practices by standardized management practices.






16. Gold drain; exchange rates; free floating






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






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






19. 1929 stock market crashed






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






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






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






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






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






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






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






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






28. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






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






33. Free trade between US - Canada - Mexico






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






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






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






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






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






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






40. Most favored nation. Trade barriers raised.






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






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






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






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






45. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






46. Promote economic recovery in Europe.






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






48. 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.






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






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