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






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






3. Worlds largest provider of computer software for desktops.






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






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






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






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






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






9. Setting of prices by mangers of large firms.






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






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






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






13. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






16. Gold drain; exchange rates; free floating






17. 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.






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






19. Income people could do with as the pleased.






20. Sears.






21. Committed her life to social reform - immigrant committee






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






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






24. Congress established a national banking system.






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






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






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






28. 1929 stock market crashed






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






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






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






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






33. 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.






34. Reduction in diversification. Reduction in layers of management.






35. First college of business.






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






37. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






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






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






44. Free trade between US - Canada - Mexico






45. Transportation. Airline Act. Rail Act. Motor Carrier Act.






46. Formalized business practices by standardized management practices.






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






48. Could only hire union workers. Illegal






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






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







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