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. Standard oil - american tobacco - us steel.






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






3. Setting of prices by mangers of large firms.






4. Gold drain; exchange rates; free floating






5. Corporate offices






6. 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.






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






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






9. Could only hire union workers. Illegal






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






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






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






13. Most women were stalled at middle management levels.






14. Worlds largest provider of computer software for desktops.






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






16. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






19. Congress established a national banking system.






20. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






22. Formalized business practices by standardized management practices.






23. Income people could do with as the pleased.






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






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






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






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






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






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






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






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






32. Sears.






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






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






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






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






37. Promote economic recovery in Europe.






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






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






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






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






42. First college of business.






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






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






45. 1929 stock market crashed






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






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






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






49. 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.






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