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






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






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






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






5. Formalized business practices by standardized management practices.






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






7. Committed her life to social reform - immigrant committee






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






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






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






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






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






13. Reduction in diversification. Reduction in layers of management.






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






15. Setting of prices by mangers of large firms.






16. 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.






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






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






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






20. Most favored nation. Trade barriers raised.






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






22. Income people could do with as the pleased.






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






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






25. 1929 stock market crashed






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






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






28. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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






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






33. Congress established a national banking system.






34. Promote economic recovery in Europe.






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






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






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






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






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






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






41. Let the people do as they please






42. Gold drain; exchange rates; free floating






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






44. Could only hire union workers. Illegal






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






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






47. Retailer - mail-order companies. Name brand products - advertising - catalogs.






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






49. Corporate offices






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