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






2. 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.






3. Corporate offices






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






5. Formalized business practices by standardized management practices.






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






7. First college of business.






8. Sears.






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






10. Interstate Commerce Commission was strengthened. Regulated rates.






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






12. Promote economic recovery in Europe.






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






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






15. 1929 stock market crashed






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






17. Congress established a national banking system.






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






19. Could only hire union workers. Illegal






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






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






22. Free trade between US - Canada - Mexico






23. Creators of Microsoft






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






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






26. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






28. Provided national advertising and mass production






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






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






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






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






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






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






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






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






37. 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.






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






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






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






41. Most favored nation. Trade barriers raised.






42. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






44. Gold drain; exchange rates; free floating






45. Let the people do as they please






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






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






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






49. Most women were stalled at middle management levels.






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