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






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






3. Most favored nation. Trade barriers raised.






4. Could only hire union workers. Illegal






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






6. Corporate offices






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






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






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






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






11. Sears.






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






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






14. Interstate Commerce Commission was strengthened. Regulated rates.






15. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






18. Income people could do with as the pleased.






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






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






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






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






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






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






25. Creators of Microsoft






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






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






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






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






30. First college of business.






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






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






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






34. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






35. Promote economic recovery in Europe.






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






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






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






40. Gold drain; exchange rates; free floating






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






42. 1929 stock market crashed






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






44. 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.






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






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






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






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






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






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