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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. 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.






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






3. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






4. Most favored nation. Trade barriers raised.






5. Let the people do as they please






6. Gold drain; exchange rates; free floating






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






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






9. Formalized business practices by standardized management practices.






10. Committed her life to social reform - immigrant committee






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






12. 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.






13. Could only hire union workers. Illegal






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






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






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






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






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






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






20. Sears.






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






22. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






25. Corporate offices






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






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






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






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






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






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






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






33. Congress established a national banking system.






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






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






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






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






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






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






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






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






42. Income people could do with as the pleased.






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






44. Provided national advertising and mass production






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






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






47. 1929 stock market crashed






48. Promote economic recovery in Europe.






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






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






Can you answer 50 questions in 15 minutes?



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