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






2. Free trade between US - Canada - Mexico






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






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






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






6. Income people could do with as the pleased.






7. First college of business.






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






9. Reduction in diversification. Reduction in layers of management.






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






11. Transportation. Airline Act. Rail Act. Motor Carrier Act.






12. Could only hire union workers. Illegal






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






14. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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






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






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






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






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






23. Congress established a national banking system.






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






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






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






27. Committed her life to social reform - immigrant committee






28. Let the people do as they please






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






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






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






32. Setting of prices by mangers of large firms.






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






34. 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.






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






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






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






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






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






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






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






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






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






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






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






46. Sears.






47. Provided national advertising and mass production






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






49. Most favored nation. Trade barriers raised.






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