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. Promote economic recovery in Europe.






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






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






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






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






6. Provided national advertising and mass production






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






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






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






10. Most women were stalled at middle management levels.






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






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






13. Corporate offices






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






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






16. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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






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






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






22. Gold drain; exchange rates; free floating






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






24. Setting of prices by mangers of large firms.






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






26. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






28. Congress established a national banking system.






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






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






31. 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.






32. First college of business.






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






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






35. 1929 stock market crashed






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






37. Creators of Microsoft






38. 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.






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






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






41. Let the people do as they please






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






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






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






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






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






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






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






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






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