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






2. Congress established a national banking system.






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






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






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






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






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






8. Provided national advertising and mass production






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






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






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






12. Setting of prices by mangers of large firms.






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






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






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






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






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






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






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






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






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






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






23. Most favored nation. Trade barriers raised.






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






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






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






27. Gold drain; exchange rates; free floating






28. 1929 stock market crashed






29. Income people could do with as the pleased.






30. First college of business.






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






32. Reduction in diversification. Reduction in layers of management.






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






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






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






36. Committed her life to social reform - immigrant committee






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






38. Worlds largest provider of computer software for desktops.






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






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






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






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






43. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






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






49. Interstate Commerce Commission was strengthened. Regulated rates.






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