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






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






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






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






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






6. Most favored nation. Trade barriers raised.






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






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






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






10. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






11. Creators of Microsoft






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






13. Committed her life to social reform - immigrant committee






14. 1929 stock market crashed






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






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






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






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






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






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






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






22. Reduction in diversification. Reduction in layers of management.






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






24. Worlds largest provider of computer software for desktops.






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






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






27. 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.






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






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






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






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






32. Formalized business practices by standardized management practices.






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






34. Most women were stalled at middle management levels.






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






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






37. Corporate offices






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






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






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






41. Setting of prices by mangers of large firms.






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






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






44. Promote economic recovery in Europe.






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






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






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






48. Gold drain; exchange rates; free floating






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






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