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






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






3. Provided national advertising and mass production






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






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






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






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






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






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






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






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






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






13. Could only hire union workers. Illegal






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






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






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






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






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






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






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






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






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






23. Setting of prices by mangers of large firms.






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






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






26. Free trade between US - Canada - Mexico






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






28. First college of business.






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






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






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






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






33. Set of attitudes and values that optimistically looked toward the erection of new institutions through which Americans would realize the good society.






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






35. Most favored nation. Trade barriers raised.






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






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






38. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






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






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






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






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






47. Let the people do as they please






48. 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.






49. Gold drain; exchange rates; free floating






50. Committed her life to social reform - immigrant committee