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






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






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






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






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






6. Let the people do as they please






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






8. Oil refining business. He was the first billionaire.






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






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






11. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






13. Gold drain; exchange rates; free floating






14. Provided national advertising and mass production






15. Congress established a national banking system.






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






17. Could only hire union workers. Illegal






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






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






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






21. Formalized business practices by standardized management practices.






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






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






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






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






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






27. 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.






28. Close banks to keep people from withdrawing all of their money and collapsing the banks.






29. Committed her life to social reform - immigrant committee






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






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






32. Interstate Commerce Commission was strengthened. Regulated rates.






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






34. Most favored nation. Trade barriers raised.






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






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






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






38. Setting of prices by mangers of large firms.






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






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






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






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






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






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






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






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






47. Sears.






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






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






50. Reduction in diversification. Reduction in layers of management.