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. Inflation continued in the absence of robust economic growth.






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






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






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






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






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






7. Provided national advertising and mass production






8. Corporate offices






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






10. 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.






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






12. Transportation. Airline Act. Rail Act. Motor Carrier Act.






13. Free trade between US - Canada - Mexico






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






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






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






17. First college of business.






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






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






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






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






22. Could only hire union workers. Illegal






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






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






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






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






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






28. Congress established a national banking system.






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






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






31. Formalized business practices by standardized management practices.






32. Most favored nation. Trade barriers raised.






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






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






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






36. Let the people do as they please






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






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






39. Interstate Commerce Commission was strengthened. Regulated rates.






40. Creators of Microsoft






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






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






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






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






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






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






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






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






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






50. Setting of prices by mangers of large firms.