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






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






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






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






5. Promote economic recovery in Europe.






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






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






8. Formalized business practices by standardized management practices.






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






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






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






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






13. Could only hire union workers. Illegal






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






15. Free trade between US - Canada - Mexico






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






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






18. Interstate Commerce Commission was strengthened. Regulated rates.






19. Most favored nation. Trade barriers raised.






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






21. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






22. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






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






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






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






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






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






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






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






33. Sears.






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






35. Committed her life to social reform - immigrant committee






36. Most women were stalled at middle management levels.






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






38. Income people could do with as the pleased.






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






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






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






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






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






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






45. Provided national advertising and mass production






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






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






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






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






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