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






2. Could only hire union workers. Illegal






3. Corporate offices






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






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






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






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






8. Promote economic recovery in Europe.






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






10. Sears.






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






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






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






14. Setting of prices by mangers of large firms.






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






16. Interstate Commerce Commission was strengthened. Regulated rates.






17. Gold drain; exchange rates; free floating






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






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






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






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






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






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






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






25. 1929 stock market crashed






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






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






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






29. Most favored nation. Trade barriers raised.






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






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






32. Committed her life to social reform - immigrant committee






33. Free trade between US - Canada - Mexico






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






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






36. 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.






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






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






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






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






41. Reduction in diversification. Reduction in layers of management.






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






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






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






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






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






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






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






49. Provided national advertising and mass production






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