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






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






3. 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.






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






5. Income people could do with as the pleased.






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






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






8. Reduction in diversification. Reduction in layers of management.






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






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






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






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






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






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






15. 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.






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






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






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






19. Interstate Commerce Commission was strengthened. Regulated rates.






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






21. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






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






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






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






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






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






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






32. Promote economic recovery in Europe.






33. Corporate offices






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






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






36. Free trade between US - Canada - Mexico






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






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






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






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






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






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






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






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






45. Creators of Microsoft






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






47. Provided national advertising and mass production






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






49. Committed her life to social reform - immigrant committee






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