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






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






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






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






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






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






7. First college of business.






8. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






10. Gold drain; exchange rates; free floating






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






12. Congress established a national banking system.






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






14. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






16. Interstate Commerce Commission was strengthened. Regulated rates.






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






18. Setting of prices by mangers of large firms.






19. Creators of Microsoft






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






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






22. Could only hire union workers. Illegal






23. Eisenhower termed. Large companies received majority or military contracts. California boomed because of defense companies.






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






25. Provided national advertising and mass production






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






27. Worlds largest provider of computer software for desktops.






28. Formalized business practices by standardized management practices.






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






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






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






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






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






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






35. Sears.






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






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






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






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






40. 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.






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






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






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






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






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






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






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






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






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






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