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






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






3. Gold drain; exchange rates; free floating






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






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






6. Promote economic recovery in Europe.






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






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






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






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






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






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






13. Provided national advertising and mass production






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






15. Committed her life to social reform - immigrant committee






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






17. Formalized business practices by standardized management practices.






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






19. Let the people do as they please






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






21. Congress established a national banking system.






22. Setting of prices by mangers of large firms.






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






24. Income people could do with as the pleased.






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






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






27. Corporate offices






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






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






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






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






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






33. Sears.






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






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






36. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






37. Creators of Microsoft






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






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






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






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






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






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






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






45. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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






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






50. 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.