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






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






3. Income people could do with as the pleased.






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






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






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






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






8. Could only hire union workers. Illegal






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






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






11. Interstate Commerce Commission was strengthened. Regulated rates.






12. Provided national advertising and mass production






13. 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.






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






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






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






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






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






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






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






21. Sears.






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






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






24. First college of business.






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






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






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






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






29. Let the people do as they please






30. Setting of prices by mangers of large firms.






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






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






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






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






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






36. 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.






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






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






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






40. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






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






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






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






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






48. Most favored nation. Trade barriers raised.






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






50. Congress established a national banking system.