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






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






3. Reduction in diversification. Reduction in layers of management.






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






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






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






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






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






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






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






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






12. Setting of prices by mangers of large firms.






13. Income people could do with as the pleased.






14. First college of business.






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






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






17. Companies had the right to manage. Union leaders.






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






19. 1929 stock market crashed






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






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






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






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






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






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






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






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






28. Interstate Commerce Commission was strengthened. Regulated rates.






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






30. Provided national advertising and mass production






31. Free trade between US - Canada - Mexico






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






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






34. Worlds largest provider of computer software for desktops.






35. Creators of Microsoft






36. 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.






37. 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.






38. Worked divided by specific tasks. i.e. accounting - production - ect.






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






40. Let the people do as they please






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






42. Formalized business practices by standardized management practices.






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






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






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






46. Most favored nation. Trade barriers raised.






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






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






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






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