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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. Let the people do as they please






2. Income people could do with as the pleased.






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






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






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






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






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






8. Reduction in diversification. Reduction in layers of management.






9. Sears.






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






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






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






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






14. Congress established a national banking system.






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






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






17. Could only hire union workers. Illegal






18. Most women were stalled at middle management levels.






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






20. Formalized business practices by standardized management practices.






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






22. Promote economic recovery in Europe.






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






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






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






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






27. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






31. First college of business.






32. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






35. Corporate offices






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






37. Free trade between US - Canada - Mexico






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






39. 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.






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






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






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






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






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






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






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






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






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






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






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







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