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. Promote economic recovery in Europe.






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






3. 1929 stock market crashed






4. Free trade between US - Canada - Mexico






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






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






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






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






9. First college of business.






10. Corporate offices






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






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






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






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






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






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






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






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






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






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






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






22. Congress established a national banking system.






23. 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.






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






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






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






27. Most women were stalled at middle management levels.






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






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






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






31. Let the people do as they please






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






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






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






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






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






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






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






39. Setting of prices by mangers of large firms.






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






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






42. Creators of Microsoft






43. Reduction in diversification. Reduction in layers of management.






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






45. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






48. Sears.






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






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