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






2. Sears.






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






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






5. Congress established a national banking system.






6. Corporate offices






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






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






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






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






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






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






13. Most favored nation. Trade barriers raised.






14. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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






18. Setting of prices by mangers of large firms.






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






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






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






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






23. Free trade between US - Canada - Mexico






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






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






26. Creators of Microsoft






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






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






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






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






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






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






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






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






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






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






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






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






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






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






41. Income people could do with as the pleased.






42. Most women were stalled at middle management levels.






43. Could only hire union workers. Illegal






44. Gold drain; exchange rates; free floating






45. Formalized business practices by standardized management practices.






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






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






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






49. Promote economic recovery in Europe.






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