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






2. Most favored nation. Trade barriers raised.






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






4. Free trade between US - Canada - Mexico






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






6. Control all aspects of an industry from raw materials to retail.






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






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






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






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






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






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






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






14. 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.






15. Congress established a national banking system.






16. Gold drain; exchange rates; free floating






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






18. Let the people do as they please






19. Corporate offices






20. Worlds largest provider of computer software for desktops.






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






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






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






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






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






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






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






28. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






30. Reduction in diversification. Reduction in layers of management.






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






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






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






34. Could only hire union workers. Illegal






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






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






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






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






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






40. Committed her life to social reform - immigrant committee






41. Sears.






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






43. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






48. First college of business.






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






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