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






2. Promote economic recovery in Europe.






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






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






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






6. Committed her life to social reform - immigrant committee






7. Could only hire union workers. Illegal






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






9. Formalized business practices by standardized management practices.






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






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






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






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






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






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






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






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






18. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






21. 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.






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






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






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






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






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






27. Worlds largest provider of computer software for desktops.






28. Most favored nation. Trade barriers raised.






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






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






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






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






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






34. Gold drain; exchange rates; free floating






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






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






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






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






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






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






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






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






43. Gov't involved in economy. Employment - interest money. Interest rates. Deficit spending.






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






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






46. President. Standard oil - american tobacco - us steel.






47. Income people could do with as the pleased.






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






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






50. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class