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






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






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






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






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






7. Committed her life to social reform - immigrant committee






8. Most women were stalled at middle management levels.






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






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






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






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






13. Could only hire union workers. Illegal






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






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






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






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






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






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






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






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






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






23. Sears.






24. Creators of Microsoft






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






26. Formalized business practices by standardized management practices.






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






28. First college of business.






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






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






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






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






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






34. Free trade between US - Canada - Mexico






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






36. Income people could do with as the pleased.






37. Transportation. Airline Act. Rail Act. Motor Carrier Act.






38. Worlds largest provider of computer software for desktops.






39. Most favored nation. Trade barriers raised.






40. Setting of prices by mangers of large firms.






41. Setting of the firms strategy according to realistic observations of available customers and then organizing the firm to coordinate production - distribution - sales and service according to these observations.






42. Reduction in diversification. Reduction in layers of management.






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






44. 1929 stock market crashed






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






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






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






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






49. Gold drain; exchange rates; free floating






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