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






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






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






4. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






7. Setting of prices by mangers of large firms.






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. Most women were stalled at middle management levels.






10. Creators of Microsoft






11. 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.






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






13. 1929 stock market crashed






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






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






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






17. Congress established a national banking system.






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






19. Let the people do as they please






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






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






22. Most favored nation. Trade barriers raised.






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






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






25. First college of business.






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






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






28. Income people could do with as the pleased.






29. Reduction in diversification. Reduction in layers of management.






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






31. 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.






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






33. Promote economic recovery in Europe.






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






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






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






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






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






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






40. Sears.






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






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






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






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






45. Could only hire union workers. Illegal






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






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






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






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






50. Formalized business practices by standardized management practices.