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






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






3. Most women were stalled at middle management levels.






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






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






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






7. Gold drain; exchange rates; free floating






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






9. Promote economic recovery in Europe.






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






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






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






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






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






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






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






17. Setting of prices by mangers of large firms.






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






19. Corporate offices






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






21. Most favored nation. Trade barriers raised.






22. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






25. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






29. First college of business.






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






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






32. Let the people do as they please






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






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






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






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






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






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






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






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






41. 1929 stock market crashed






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






43. Sears.






44. 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.






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






46. Reduction in diversification. Reduction in layers of management.






47. 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.






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






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






50. Provided national advertising and mass production