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






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






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






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






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






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






7. Provided national advertising and mass production






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






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






10. 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.






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






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






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






14. Formalized business practices by standardized management practices.






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






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






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






18. Setting of prices by mangers of large firms.






19. Most women were stalled at middle management levels.






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






21. 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.






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






23. Most favored nation. Trade barriers raised.






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






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






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






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






28. Committed her life to social reform - immigrant committee






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






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






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






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






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






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






35. Sears.






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






37. Let the people do as they please






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






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






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






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






42. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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






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






47. Transportation. Airline Act. Rail Act. Motor Carrier Act.






48. First college of business.






49. Congress established a national banking system.






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