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. Provided national advertising and mass production






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






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






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






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






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






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






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






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






10. Formalized business practices by standardized management practices.






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






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






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






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






15. Reduction in diversification. Reduction in layers of management.






16. Most women were stalled at middle management levels.






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






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






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






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






21. Most favored nation. Trade barriers raised.






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






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






24. Gold drain; exchange rates; free floating






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






26. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






30. Committed her life to social reform - immigrant committee






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






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






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






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






35. 1929 stock market crashed






36. Let the people do as they please






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






38. Interstate Commerce Commission was strengthened. Regulated rates.






39. Sears.






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






41. Unemployment rose to 25%; 110 - 000 business failed; Bank Holidays






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






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






44. Income people could do with as the pleased.






45. Setting of prices by mangers of large firms.






46. Promote economic recovery in Europe.






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






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






49. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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