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






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






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






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






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






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






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






8. Congress established a national banking system.






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






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






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






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






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






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






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






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






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






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






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






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






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






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






23. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






25. 1929 stock market crashed






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






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






28. Creators of Microsoft






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






30. Committed her life to social reform - immigrant committee






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






32. Gold drain; exchange rates; free floating






33. Provided national advertising and mass production






34. Setting of prices by mangers of large firms.






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






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






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






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






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






40. Interstate Commerce Commission was strengthened. Regulated rates.






41. Promote economic recovery in Europe.






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






43. Sears.






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






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






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






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






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






49. Free trade between US - Canada - Mexico






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