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






2. Gold drain; exchange rates; free floating






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






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






5. Congress established a national banking system.






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






7. Interstate Commerce Commission was strengthened. Regulated rates.






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






9. Worlds largest provider of computer software for desktops.






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






11. Could only hire union workers. Illegal






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






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






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






15. Income people could do with as the pleased.






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






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






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






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






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






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






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






23. Sears.






24. Corporate offices






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






26. Creators of Microsoft






27. Let the people do as they please






28. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






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






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






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






36. Most women were stalled at middle management levels.






37. Setting of prices by mangers of large firms.






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






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






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






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






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






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






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






45. Reduction in diversification. Reduction in layers of management.






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






47. 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.






48. Provided national advertising and mass production






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






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







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