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






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






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






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






5. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






8. 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.






9. Committed her life to social reform - immigrant committee






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






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






12. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






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






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






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






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






20. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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






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






25. First college of business.






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






27. Setting of prices by mangers of large firms.






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






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






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






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






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






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






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






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






36. Ultimate authority of nations economic well being shifted from private arena - to public arena.






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






38. Could only hire union workers. Illegal






39. Congress established a national banking system.






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






41. Formalized business practices by standardized management practices.






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






43. Free trade between US - Canada - Mexico






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






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






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






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






48. Creators of Microsoft






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






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