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. First college of business.






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






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






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






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






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






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






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






9. Set of values that placed a higher priority on the use of good than on their production.






10. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






12. Reduction in diversification. Reduction in layers of management.






13. Creators of Microsoft






14. Corporate offices






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






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






17. Could only hire union workers. Illegal






18. Provided national advertising and mass production






19. Worlds largest provider of computer software for desktops.






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






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






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






23. 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.






24. Most women were stalled at middle management levels.






25. Inflation continued in the absence of robust economic growth.






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






27. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






30. Formalized business practices by standardized management practices.






31. Promote economic recovery in Europe.






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






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






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






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






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






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






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






39. Setting of prices by mangers of large firms.






40. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






42. Sears.






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






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






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






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






47. Let the people do as they please






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






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






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