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. 1929 stock market crashed






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






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






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






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






6. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






9. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






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






14. Formalized business practices by standardized management practices.






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






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






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






18. Sears.






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






20. Creators of Microsoft






21. 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.






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






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






24. Income people could do with as the pleased.






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






26. Let the people do as they please






27. Most favored nation. Trade barriers raised.






28. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






31. Promote economic recovery in Europe.






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






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






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






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






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






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






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






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






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






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






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






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






44. Could only hire union workers. Illegal






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






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






47. Worlds largest provider of computer software for desktops.






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






49. Corporate offices






50. Committed her life to social reform - immigrant committee