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






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






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






4. Let the people do as they please






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






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






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






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






9. Gold drain; exchange rates; free floating






10. Corporate offices






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






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






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






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






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






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






17. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






19. Congress established a national banking system.






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






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






22. Worlds largest provider of computer software for desktops.






23. First college of business.






24. Setting of prices by mangers of large firms.






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






26. Income people could do with as the pleased.






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






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






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






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






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






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






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






34. Provided national advertising and mass production






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






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






37. Committed her life to social reform - immigrant committee






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






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






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






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






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






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






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






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






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






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






48. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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