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






2. Corporate offices






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






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






5. Most women were stalled at middle management levels.






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






7. Sears.






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






9. 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.






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






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






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






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






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






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






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






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






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






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






20. Committed her life to social reform - immigrant committee






21. Free trade between US - Canada - Mexico






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






23. Reduction in diversification. Reduction in layers of management.






24. Provided national advertising and mass production






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






26. Most favored nation. Trade barriers raised.






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






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






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






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






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






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






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






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






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






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






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






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






39. Setting of prices by mangers of large firms.






40. Formalized business practices by standardized management practices.






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






42. Congress established a national banking system.






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






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






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






46. Creators of Microsoft






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






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






49. Worlds largest provider of computer software for desktops.






50. Father of Scientific Management. Studied individual tasks to make them more efficient. Used a stop watch to measure time it takes to complete a task.







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