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






2. Gold drain; exchange rates; free floating






3. Interstate Commerce Commission was strengthened. Regulated rates.






4. Most favored nation. Trade barriers raised.






5. Sears.






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






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






8. 1929 stock market crashed






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






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






11. Formalized business practices by standardized management practices.






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






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






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






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






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






17. Creators of Microsoft






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






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






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






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






22. Let the people do as they please






23. Income people could do with as the pleased.






24. Committed her life to social reform - immigrant committee






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






26. Reduction in diversification. Reduction in layers of management.






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






28. First college of business.






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






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






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






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






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






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






35. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






39. 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.






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






41. 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.






42. Promote economic recovery in Europe.






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






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






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






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






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






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






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






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