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. Gold drain; exchange rates; free floating






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






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






4. Let the people do as they please






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






6. Creators of Microsoft






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






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






9. Started as a gun powder company - Rate of return.






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. Promote economic recovery in Europe.






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






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






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






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






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






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






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






19. Could only hire union workers. Illegal






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






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






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






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






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






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






26. First college of business.






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






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






29. 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.






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






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






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






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






34. Sears.






35. 1929 stock market crashed






36. Formalized business practices by standardized management practices.






37. Income people could do with as the pleased.






38. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






40. Provided national advertising and mass production






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






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






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






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






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






46. Free trade between US - Canada - Mexico






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






48. Most women were stalled at middle management levels.






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






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