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. Free trade between US - Canada - Mexico






2. Could only hire union workers. Illegal






3. Formalized business practices by standardized management practices.






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






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






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






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






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






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






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






11. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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






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






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






17. 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.






18. Worlds largest provider of computer software for desktops.






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






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






21. Corporate offices






22. 1929 stock market crashed






23. Setting of prices by mangers of large firms.






24. Cooperative activity in the service of the public - exchanging information - eliminating waste - fostering labor management to improve the business system.






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






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






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






28. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






29. Committed her life to social reform - immigrant committee






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






31. First college of business.






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






33. 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.






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






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






36. Gold drain; exchange rates; free floating






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






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






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






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






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






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






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






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






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






46. Let the people do as they please






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






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






49. Partnership between business and government. Solve problems through scientific investigation. Society of Harmony






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