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. Formalized business practices by standardized management practices.






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






3. Promote economic recovery in Europe.






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






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






6. Let the people do as they please






7. Creators of Microsoft






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






9. Income people could do with as the pleased.






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






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






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






13. Corporate offices






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






15. 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.






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






17. Gold drain; exchange rates; free floating






18. Transportation. Airline Act. Rail Act. Motor Carrier Act.






19. Sears.






20. Most women were stalled at middle management levels.






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






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






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






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






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






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






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






28. Worlds largest provider of computer software for desktops.






29. 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.






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






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






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






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






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






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






36. Setting of prices by mangers of large firms.






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






38. Reduction in diversification. Reduction in layers of management.






39. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






40. Committed her life to social reform - immigrant committee






41. Could only hire union workers. Illegal






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






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






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






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






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






47. 1929 stock market crashed






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






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






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