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






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






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






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






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






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






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






8. Gold drain; exchange rates; free floating






9. Provided national advertising and mass production






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






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






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






13. Promote economic recovery in Europe.






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






15. 1929 stock market crashed






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






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






18. Unsafe at any speed. Consumers should not automatically trust new products or the business that produced them.






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






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






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






22. Income people could do with as the pleased.






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






24. Congress established a national banking system.






25. 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.






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






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






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






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






30. First college of business.






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






32. Creators of Microsoft






33. Formalized business practices by standardized management practices.






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






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






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






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






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






39. Sears.






40. Partnership between business and government. Solve problems through scientific investigation. Society of Harmony






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






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






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






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






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






46. Cooperative activity in the service of the public - exchanging information - eliminating waste - fostering labor management to improve the business system.






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






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






49. Most women were stalled at middle management levels.






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