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Test your basic knowledge |
Management 101: Business History
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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. GM - Ford - and Chrysler dominated the market. GM=50% share
Closed Shop
Managerial Revolution
Booming American Automobile Industry
Functional Departmentalization
2. Control all aspects of an industry from raw materials to retail.
Civil Rights Act
Hepburn Act
Vertical Integration
University of PA
3. Paper currency issued by the government to finance to civil war.
Progressivism
Green Backs
Disposable Income
Functional Departmentalization
4. Outlawed racial and gender discrimination; created equal employment opportunity; affected hiring; job security.
Civil Rights Act
William Taft
Administrative pricing
Marketing
5. Reduction in diversification. Reduction in layers of management.
Civil Rights Act
Bill Gates - Paul Allen
Consequences of Mergers
Bank Holidays
6. Business leaders sought to achieve cooperation among business - labor and government.
NAFTA
Civil Rights Act
Du Pont
Corporatism
7. Gov't involved in economy. Employment - interest money. Interest rates. Deficit spending.
Taft Hartley Act
Civil War
Sears
Keynes Economic Theory
8. Let the people do as they please
Laissez Faire
Open Prices
Oligopoly
Consumerism
9. Leader of the new school economists. Rejected Laissez faire. Did not believe in government run business.
Post-Industrial Economy
William Taft
Richard T. Ely
Marketing
10. Started as a gun powder company - Rate of return.
1913 Federal Reserve Board
Salmon Chase
Trade
Du Pont
11. Developed the assembly line. Anti Union. Model T.
Francis Kellor
Henry Ford
Trade
Horizontal Integration
12. Trade associations fixed prices and thwarted competition in the interest of maximum efficiency.
Open Prices
Corporation
Stagflation
Mass Industry
13. Defense department became a significant source for scientific and engineering. Led by private firms and university.
Marketing
Populism
The Great Depression
Military Industrial Complex
14. Corporate offices
Andrew Carnegie
Decentralized Management
Managerial Revolution
Populism
15. Eisenhower termed. Large companies received majority or military contracts. California boomed because of defense companies.
Business Bureaucracies
Vertical Integration
Military Industrial Complex 2
Most Favorited Nation
16. Committed her life to social reform - immigrant committee
Trade
Francis Kellor
Henry Ford
Herbert Hoover
17. Promote economic recovery in Europe.
Laissez Faire
Keynes Economic Theory
Bank Holidays
Marshall Plan
18. Cooperative activity in the service of the public - exchanging information - eliminating waste - fostering labor management to improve the business system.
New Individualism
Du Pont
Hostile Takeover
Civil War
19. Ultimate authority of nations economic well being shifted from private arena - to public arena.
Employment & Production Act
Industrial Democracy
Richard T. Ely
Economic Prosperity
20. 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.
Marketing
Open Shop
Sears
Frederick Taylor
21. Companies organized their activities around a strategy that integrated careful observation of changing consumer tastes with design production and distribution.
Hostile Takeover
Administrative pricing
Salmon Chase
Marketing
22. Restraints of trade. Railroads could not collaborate to fix prices. Wasn't used until the 20th century.
Corporate Management
Booming American Automobile Industry
Sherman Anti-Trust Act
Frederick Taylor
23. Most women were stalled at middle management levels.
Glass Ceiling
Consequences of Mergers
Mann-Elkins Act
Economic Prosperity
24. A position of balance between investors - employees - consumers - competitors - and all others who may be interested in attitudes of management.
Anti-trust Policy
Closed Shop
Sherman Anti-Trust Act
Corporate Management
25. Goal was to represent the interests of American business in general.
Mann-Elkins Act
U.S Chamber of Commerce
Ralph Nader
Hostile Takeover
26. Use of stock tender to offer to buy a company that did not want to sell.
Hostile Takeover
Glass Ceiling
Marketing
Industrial Democracy
27. Sought to break up the control of big business to create more opportunities.
Francis Kellor
University of PA
Populism
Monetarism
28. Companies with many different divisions - usually 8 or more that make up and sell unrelated products.
Conglomerates
Business Bureaucracies
Corporation
Andrew Carnegie
29. A few firms dominate an industry. Price competition decreased.
John D. Rockafeller
Oligopoly
1913 Federal Reserve Board
Open Prices
30. Interstate Commerce Commission was strengthened. Regulated rates.
Hepburn Act
Administrative pricing
Consequences of Mergers
Corporatism
31. Unemployment rose to 25%; 110 - 000 business failed; Bank Holidays
Stagflation
The Great Depression
Henry Ford
Andrew Carnegie
32. Congress established a national banking system.
Corporation
Civil War
Trade
Associative State
33. Worked divided by specific tasks. i.e. accounting - production - ect.
Open Shop
Consumerism
Functional Departmentalization
Bill Gates - Paul Allen
34. Retailer - mail-order companies. Name brand products - advertising - catalogs.
Managerial Revolution
Hepburn Act
Mass Industry
Populism
35. Partnership between business and government. Solve problems through scientific investigation. Society of Harmony
Oligopoly
Herbert Hoover
Sears
Corporation
36. Urged the gov't to control the money supply in order to control inflation.
Monetarism
Richard T. Ely
Disposable Income
William Taft
37. Free trade between US - Canada - Mexico
Richard T. Ely
NAFTA
Gilded Age
1913 Federal Reserve Board
38. 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.
Frederick Taylor
Military Industrial Complex 2
Gilded Age
Oligopoly
39. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class
Gilded Age
Richard T. Ely
Corporatism
Monetarism
40. Transportation. Airline Act. Rail Act. Motor Carrier Act.
Stagflation
Consumerism
Deregulation
Andrew Carnegie
41. Influenced by Army. Staff officers-strategic decisions - Line officers-carried out orders in field.
Business Bureaucracies
U.S Chamber of Commerce
Trade
Leveraged Buyout
42. Sec. of Treasury under lincoln. Father of national Banking system.
Military Industrial Complex
Salmon Chase
Andrew Carnegie
Disposable Income
43. Items purchased by consumers for use over more than a year or two.
Corporate Management
Consumer Durables
Keynes Economic Theory
Richard T. Ely
44. Set of values that placed a higher priority on the use of good than on their production.
Consumerism
William Taft
Marshall Plan
Bank Holidays
45. Management could hire whomever they wanted but after a period of time. All workers had to join the union.
Frederick Taylor
Union Shop
Henry Ford
Francis Kellor
46. Oil refining business. He was the first billionaire.
Consequences of Mergers
John D. Rockafeller
Business Bureaucracies
Richard T. Ely
47. Provided national advertising and mass production
Welfare Capitalism
Most Favorited Nation
Franchisor
Progressivism
48. Employers can hire whoever they want. Both union and non union.
Leveraged Buyout
Military Industrial Complex
Corporatism
Open Shop
49. Panic of 1907 - 5 members - foreign transactions went through NY.
1913 Federal Reserve Board
Booming American Automobile Industry
Post-Industrial Economy
Corporate Management
50. Inflation continued in the absence of robust economic growth.
Corporation
Consumerism
Consumer Durables
Stagflation