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






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






3. Congress established a national banking system.






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






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






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






7. Income people could do with as the pleased.






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






9. Let the people do as they please






10. Provided national advertising and mass production






11. Reduction in diversification. Reduction in layers of management.






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






13. 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.






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






15. Worlds largest provider of computer software for desktops.






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






17. Interstate Commerce Commission was strengthened. Regulated rates.






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






19. Formalized business practices by standardized management practices.






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






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






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






23. First college of business.






24. 1929 stock market crashed






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






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






27. Transportation. Airline Act. Rail Act. Motor Carrier Act.






28. Corporate offices






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






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






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






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






33. Promote economic recovery in Europe.






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






35. Free trade between US - Canada - Mexico






36. Gold drain; exchange rates; free floating






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






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






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






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






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






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






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






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






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






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






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






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






49. Most women were stalled at middle management levels.






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