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Test your basic knowledge |
Management 101: Business History
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Study First
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. Reduction in diversification. Reduction in layers of management.
Consequences of Mergers
Mass Industry
Disposable Income
Military Industrial Complex
2. Creators of Microsoft
Francis Kellor
Bill Gates - Paul Allen
Disposable Income
Laissez Faire
3. Close banks to keep people from withdrawing all of their money and collapsing the banks.
Post-Industrial Economy
Bank Holidays
John D. Rockafeller
Francis Kellor
4. Unsafe at any speed. Consumers should not automatically trust new products or the business that produced them.
Green Backs
Administrative pricing
Post-Industrial Economy
Ralph Nader
5. Use of stock tender to offer to buy a company that did not want to sell.
Functional Departmentalization
Deregulation
Hostile Takeover
Administrative pricing
6. GM - Ford - and Chrysler dominated the market. GM=50% share
Anti-trust Policy
Sears
Associative State
Booming American Automobile Industry
7. Outlawed racial and gender discrimination; created equal employment opportunity; affected hiring; job security.
Booming American Automobile Industry
Bill Gates - Paul Allen
Civil Rights Act
Functional Departmentalization
8. Interstate Commerce Commission was strengthened. Regulated rates.
Sears
Herbert Hoover
Hepburn Act
Closed Shop
9. Retailer - mail-order companies. Name brand products - advertising - catalogs.
Mass Industry
NAFTA
Marshall Plan
Green Backs
10. Leader of the new school economists. Rejected Laissez faire. Did not believe in government run business.
Richard T. Ely
Henry Ford
Mann-Elkins Act
University of PA
11. A position of balance between investors - employees - consumers - competitors - and all others who may be interested in attitudes of management.
Gilded Age
Corporate Management
Taft Hartley Act
Consumer Durables
12. Background in railroad business. 1872 entered steel business. Sold to JP Morgan for $480 million dollars.
1913 Federal Reserve Board
Francis Kellor
Andrew Carnegie
Hostile Takeover
13. Companies would act responsibility toward the American public on matters as truth in advertising. Hiring of woman.
Frederick Taylor
Hepburn Act
Conglomerates
Social Responsibility
14. Alliance among public agencies - private firms and trade associations to handle international competitions.
Industrial Policy
John D. Rockafeller
Green Backs
Mann-Elkins Act
15. Congress established a national banking system.
Montgomery Ward
Hepburn Act
Civil War
Currency
16. Trade associations fixed prices and thwarted competition in the interest of maximum efficiency.
Booming American Automobile Industry
Civil Rights Act
Open Prices
Consumer Durables
17. Let the people do as they please
Laissez Faire
Marketing
Franchisee
Welfare Capitalism
18. 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.
Green Backs
Frederick Taylor
Post-Industrial Economy
Franchisor
19. Cooperative activity in the service of the public - exchanging information - eliminating waste - fostering labor management to improve the business system.
Consumerism
Marshall Plan
Stagflation
New Individualism
20. Most women were stalled at middle management levels.
Taft Hartley Act
Mircosoft
Glass Ceiling
Andrew Carnegie
21. Urged the gov't to control the money supply in order to control inflation.
Booming American Automobile Industry
Decentralized Management
Disposable Income
Monetarism
22. President. Standard oil - american tobacco - us steel.
Franklin Roosevelt
William Taft
Gilded Age
Civil Rights Act
23. Companies with many different divisions - usually 8 or more that make up and sell unrelated products.
Conglomerates
William Taft
Corporate Management
Glass Ceiling
24. Promote economic recovery in Europe.
Marshall Plan
Open Shop
Herbert Hoover
Currency
25. Increase consumer durables; increase service industries; trade - finance - transportation - and gov't
1913 Federal Reserve Board
Herbert Hoover
Marshall Plan
Post-Industrial Economy
26. Oil refining business. He was the first billionaire.
Francis Kellor
Franchisor
John D. Rockafeller
Disposable Income
27. President;FDIC;Closed all banks on first day in office;only president to serve four terms.
Open Prices
Industrial Policy
Franklin Roosevelt
Montgomery Ward
28. Worked divided by specific tasks. i.e. accounting - production - ect.
Francis Kellor
Functional Departmentalization
Conglomerates
NAFTA
29. Companies organized their activities around a strategy that integrated careful observation of changing consumer tastes with design production and distribution.
Industrial Policy
Marketing
Business Bureaucracies
Andrew Carnegie
30. A few firms dominate an industry. Price competition decreased.
Trade
Leveraged Buyout
Horizontal Integration
Oligopoly
31. Business leaders sought to achieve cooperation among business - labor and government.
Marshall Plan
Monetarism
Disposable Income
Corporatism
32. American firms were poised to dominate economic activity in a system of free trade.
Industrial Policy
Economic Prosperity
Marketing
Organization of Petroleum Exporting Countries
33. Oil supplies withheld; large - non fuel efficient car; More japanese cars sold; Ford - Chevy - Chrysler
Functional Departmentalization
William Taft
Organization of Petroleum Exporting Countries
Corporate Management
34. Partnership between business and government. Solve problems through scientific investigation. Society of Harmony
Corporation
Decentralized Management
Consumerism
Associative State
35. Most favored nation. Trade barriers raised.
Trade
Civil War
NAFTA
Sears
36. Started as a gun powder company - Rate of return.
Sherman Anti-Trust Act
Du Pont
Industrial Democracy
Civil War
37. Companies had the right to manage. Union leaders.
Decentralized Management
Civil War
Taft Hartley Act
Oligopoly
38. Could only hire union workers. Illegal
Closed Shop
Hostile Takeover
Open Prices
Franchisor
39. Burden of proof to raise rates was now the responsibility of the railroads.
Monetarism
Consequences of Mergers
Du Pont
Mann-Elkins Act
40. Business - not independent trade unions should look after the best interest of the workers.
Trade
U.S Chamber of Commerce
Administrative pricing
Welfare Capitalism
41. Programs intended to stabilize the economy while maintaining individual autonomy.
Mass Industry
Associative State
Administrative pricing
Monetarism
42. Employers can hire whoever they want. Both union and non union.
Marshall Plan
Franchisee
Open Shop
Closed Shop
43. Corporate offices
Decentralized Management
Sherman Anti-Trust Act
Leveraged Buyout
NAFTA
44. Sought to break up the control of big business to create more opportunities.
Civil War
Franchisee
Populism
Industrial Democracy
45. First college of business.
Andrew Carnegie
Administrative pricing
Union Shop
University of PA
46. Restraints of trade. Railroads could not collaborate to fix prices. Wasn't used until the 20th century.
Sherman Anti-Trust Act
Marketing
Hostile Takeover
Andrew Carnegie
47. Committed her life to social reform - immigrant committee
Welfare Capitalism
Gilded Age
Associative State
Francis Kellor
48. Use borrowed money to buy company. Sometimes used to take 'stock private'
Open Shop
Marketing
The Great Depression
Leveraged Buyout
49. Influenced by Army. Staff officers-strategic decisions - Line officers-carried out orders in field.
Keynes Economic Theory
Business Bureaucracies
John D. Rockafeller
Hepburn Act
50. Set of attitudes and values that optimistically looked toward the erection of new institutions through which Americans would realize the good society.
Stagflation
Disposable Income
Taft Hartley Act
Progressivism