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. Oil refining business. He was the first billionaire.






2. Most women were stalled at middle management levels.






3. Promote economic recovery in Europe.






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






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






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






7. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






8. Provided national advertising and mass production






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






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






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






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






13. Reduction in diversification. Reduction in layers of management.






14. Free trade between US - Canada - Mexico






15. Income people could do with as the pleased.






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






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






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






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






20. Most favored nation. Trade barriers raised.






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






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






23. Interstate Commerce Commission was strengthened. Regulated rates.






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






25. Dominated the retail industry by mail order only selling.






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






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






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






29. Worlds largest provider of computer software for desktops.






30. 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.






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






32. Sears.






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






34. A position of balance between investors - employees - consumers - competitors - and all others who may be interested in attitudes of management.






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






36. 1929 stock market crashed






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






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






39. Could only hire union workers. Illegal






40. Creators of Microsoft






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






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






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






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






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






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






47. 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.






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






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






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