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. Free trade between US - Canada - Mexico






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






3. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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






7. 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.






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






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






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






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






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






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






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






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






16. 1929 stock market crashed






17. Committed her life to social reform - immigrant committee






18. Reduction in diversification. Reduction in layers of management.






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






20. Promote economic recovery in Europe.






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






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






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






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






25. Gold drain; exchange rates; free floating






26. Most women were stalled at middle management levels.






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






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






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






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






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






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






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






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






35. Provided national advertising and mass production






36. Setting of prices by mangers of large firms.






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






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






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






40. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






41. Formalized business practices by standardized management practices.






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






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






44. Most favored nation. Trade barriers raised.






45. Congress established a national banking system.






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






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






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






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






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