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






2. Free trade between US - Canada - Mexico






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






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






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






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






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






8. 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.






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






10. Gold drain; exchange rates; free floating






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






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






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






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






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






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






17. Congress established a national banking system.






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






19. First college of business.






20. Reduction in diversification. Reduction in layers of management.






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






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






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






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






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






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






27. Setting of prices by mangers of large firms.






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






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






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






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






32. Most women were stalled at middle management levels.






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






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






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






36. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






40. Creators of Microsoft






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






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






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






44. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






45. Worlds largest provider of computer software for desktops.






46. Income people could do with as the pleased.






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






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






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






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