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






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






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






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






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






6. Income people could do with as the pleased.






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






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






9. Could only hire union workers. Illegal






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






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






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






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






14. Setting of prices by mangers of large firms.






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






16. Creators of Microsoft






17. Most favored nation. Trade barriers raised.






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






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






20. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






23. Committed her life to social reform - immigrant committee






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






25. Gold drain; exchange rates; free floating






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






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






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






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






30. Free trade between US - Canada - Mexico






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






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






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






34. Most women were stalled at middle management levels.






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






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






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






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






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






40. Interstate Commerce Commission was strengthened. Regulated rates.






41. 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.






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






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






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






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






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






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






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






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






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