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






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






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






4. Sears.






5. Corporate offices






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






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






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






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






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






11. Gold drain; exchange rates; free floating






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






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






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






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






16. Promote economic recovery in Europe.






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






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






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






20. 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.






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






22. Alliance among public agencies - private firms and trade associations to handle international competitions.






23. Provided national advertising and mass production






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






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






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






27. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






30. Free trade between US - Canada - Mexico






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






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






33. First college of business.






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






35. Formalized business practices by standardized management practices.






36. Most favored nation. Trade barriers raised.






37. Income people could do with as the pleased.






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






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






40. Setting of prices by mangers of large firms.






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






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






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






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






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






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






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






48. Worlds largest provider of computer software for desktops.






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






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






Can you answer 50 questions in 15 minutes?



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