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. Sears.






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






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






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






5. Gold drain; exchange rates; free floating






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






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






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






9. Most favored nation. Trade barriers raised.






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






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






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






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






14. 1929 stock market crashed






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






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






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






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






19. Could only hire union workers. Illegal






20. Reduction in diversification. Reduction in layers of management.






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






22. Corporate offices






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






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






25. Provided national advertising and mass production






26. 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.






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






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






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






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






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






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






33. Free trade between US - Canada - Mexico






34. Let the people do as they please






35. Congress established a national banking system.






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






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






38. Creators of Microsoft






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






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






41. 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.






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






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






44. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






46. Promote economic recovery in Europe.






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






48. Worlds largest provider of computer software for desktops.






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






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