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. Committed her life to social reform - immigrant committee






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






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






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






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






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






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






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






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






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






11. Reduction in diversification. Reduction in layers of management.






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






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






14. 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.






15. Most favored nation. Trade barriers raised.






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






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






18. Congress established a national banking system.






19. Setting of prices by mangers of large firms.






20. Free trade between US - Canada - Mexico






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






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






23. 1929 stock market crashed






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






25. Gold drain; exchange rates; free floating






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






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






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






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






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






31. Provided national advertising and mass production






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






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






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






35. Interstate Commerce Commission was strengthened. Regulated rates.






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






37. Most women were stalled at middle management levels.






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






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






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






41. Sears.






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






43. Corporate offices






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






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






46. Income people could do with as the pleased.






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






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






49. First college of business.






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