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






2. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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






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






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






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






9. 1929 stock market crashed






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






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






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






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






14. Could only hire union workers. Illegal






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






16. Formalized business practices by standardized management practices.






17. Worlds largest provider of computer software for desktops.






18. First college of business.






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






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






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






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






23. Reduction in diversification. Reduction in layers of management.






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






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






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






27. Congress established a national banking system.






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






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






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






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






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






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






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






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






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






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






38. Promote economic recovery in Europe.






39. Most women were stalled at middle management levels.






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






41. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






44. Free trade between US - Canada - Mexico






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






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






47. Creators of Microsoft






48. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






50. Setting of prices by mangers of large firms.