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. Oil refining business. He was the first billionaire.






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






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






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






5. Provided national advertising and mass production






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






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






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






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






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






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






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






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






14. Most favored nation. Trade barriers raised.






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






16. 1929 stock market crashed






17. Interstate Commerce Commission was strengthened. Regulated rates.






18. Reduction in diversification. Reduction in layers of management.






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






20. Promote economic recovery in Europe.






21. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






25. Worlds largest provider of computer software for desktops.






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






27. Sears.






28. Could only hire union workers. Illegal






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






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






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






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






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






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






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






36. Committed her life to social reform - immigrant committee






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






38. Free trade between US - Canada - Mexico






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






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






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






42. First college of business.






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






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






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






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






47. Congress established a national banking system.






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






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






50. Gold drain; exchange rates; free floating