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






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






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






4. First college of business.






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






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






7. Interstate Commerce Commission was strengthened. Regulated rates.






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






9. Congress established a national banking system.






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






11. Free trade between US - Canada - Mexico






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






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






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






15. Setting of prices by mangers of large firms.






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






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






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






19. Creators of Microsoft






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






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






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






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






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






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






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






27. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






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






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






34. 1929 stock market crashed






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






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






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






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






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






40. Corporate offices






41. Promote economic recovery in Europe.






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






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






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






45. Could only hire union workers. Illegal






46. Committed her life to social reform - immigrant committee






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






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






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






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