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






2. Most favored nation. Trade barriers raised.






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






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






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






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






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






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






9. Sears.






10. Could only hire union workers. Illegal






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






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






13. Income people could do with as the pleased.






14. Gold drain; exchange rates; free floating






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






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






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






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






19. Creators of Microsoft






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






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






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






23. First college of business.






24. Interstate Commerce Commission was strengthened. Regulated rates.






25. Let the people do as they please






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






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






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






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






30. Congress established a national banking system.






31. Corporate offices






32. Free trade between US - Canada - Mexico






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






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






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






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






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






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






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






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






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






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






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






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






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






46. Reduction in diversification. Reduction in layers of management.






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






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






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






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