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






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






3. Let the people do as they please






4. Setting of prices by mangers of large firms.






5. Reduction in diversification. Reduction in layers of management.






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






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






8. Provided national advertising and mass production






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






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






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






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






13. Could only hire union workers. Illegal






14. Transportation. Airline Act. Rail Act. Motor Carrier Act.






15. Creators of Microsoft






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






17. Promote economic recovery in Europe.






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






19. 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.






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






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






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






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






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






25. Sears.






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






27. Gold drain; exchange rates; free floating






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






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






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






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






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






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






34. First college of business.






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






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






37. 1929 stock market crashed






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






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






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






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






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






43. 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.






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






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






46. Congress established a national banking system.






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






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






49. Interstate Commerce Commission was strengthened. Regulated rates.






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