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. Could only hire union workers. Illegal






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






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






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






5. Corporate offices






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






7. Formalized business practices by standardized management practices.






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






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






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






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






12. Sears.






13. Congress established a national banking system.






14. Most favored nation. Trade barriers raised.






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






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






17. 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.






18. Free trade between US - Canada - Mexico






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






20. First college of business.






21. Creators of Microsoft






22. Provided national advertising and mass production






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






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






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






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






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






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






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






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






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






32. Worlds largest provider of computer software for desktops.






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






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






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






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






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






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






39. Most women were stalled at middle management levels.






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






41. Committed her life to social reform - immigrant committee






42. Gold drain; exchange rates; free floating






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






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






45. 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.






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






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






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






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






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