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






2. Committed her life to social reform - immigrant committee






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






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






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






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






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






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






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






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






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






12. Worlds largest provider of computer software for desktops.






13. Sears.






14. Income people could do with as the pleased.






15. Most favored nation. Trade barriers raised.






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






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






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






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






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






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






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






23. Corporate offices






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






41. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






43. Interstate Commerce Commission was strengthened. Regulated rates.






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






45. Most women were stalled at middle management levels.






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






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






48. First college of business.






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






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