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. 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.






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






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






4. Background in railroad business. 1872 entered steel business. Sold to JP Morgan for $480 million dollars.






5. Let the people do as they please






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






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






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






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






10. Most favored nation. Trade barriers raised.






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






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






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






14. Could only hire union workers. Illegal






15. 1929 stock market crashed






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






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






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






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






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






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






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






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






24. Congress established a national banking system.






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






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






27. Creators of Microsoft






28. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






31. Free trade between US - Canada - Mexico






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






33. Setting of prices by mangers of large firms.






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






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






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






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






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






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






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






41. Most women were stalled at middle management levels.






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






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






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






45. Corporate offices






46. Interstate Commerce Commission was strengthened. Regulated rates.






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






48. First college of business.






49. Provided national advertising and mass production






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