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






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






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






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






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






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






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






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






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






10. Transportation. Airline Act. Rail Act. Motor Carrier Act.






11. 1929 stock market crashed






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






13. Most favored nation. Trade barriers raised.






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






15. Worlds largest provider of computer software for desktops.






16. Free trade between US - Canada - Mexico






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






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






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






20. Setting of prices by mangers of large firms.






21. Corporate offices






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






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






24. 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.






25. Sears.






26. Gold drain; exchange rates; free floating






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






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






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






30. Interstate Commerce Commission was strengthened. Regulated rates.






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






32. Creators of Microsoft






33. Let the people do as they please






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






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






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






37. Could only hire union workers. Illegal






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






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






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






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






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






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






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






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






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






47. Congress established a national banking system.






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






50. Formalized business practices by standardized management practices.