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






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






3. Worlds largest provider of computer software for desktops.






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






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






6. Committed her life to social reform - immigrant committee






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






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






9. Gold drain; exchange rates; free floating






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






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






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






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






14. Setting of prices by mangers of large firms.






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






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






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






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






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






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






21. Most women were stalled at middle management levels.






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






23. Corporate offices






24. Reduction in diversification. Reduction in layers of management.






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






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






27. Could only hire union workers. Illegal






28. Congress established a national banking system.






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






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






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






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






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






34. Creators of Microsoft






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






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






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






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






39. Sears.






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






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






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






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






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






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






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






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






49. Let the people do as they please






50. 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.