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






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






3. Promote economic recovery in Europe.






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






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






6. Free trade between US - Canada - Mexico






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






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






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






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






11. 1929 stock market crashed






12. Corporate offices






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






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






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






16. Setting of prices by mangers of large firms.






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






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






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






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






21. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






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






26. Let the people do as they please






27. 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.






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






29. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






31. 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.






32. Reduction in diversification. Reduction in layers of management.






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






34. Most women were stalled at middle management levels.






35. Could only hire union workers. Illegal






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






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






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






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






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






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






42. Worlds largest provider of computer software for desktops.






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






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






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






46. Committed her life to social reform - immigrant committee






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






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






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






50. Gold drain; exchange rates; free floating