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






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






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






4. Free trade between US - Canada - Mexico






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






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






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






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






9. 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.






10. Congress established a national banking system.






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






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






13. Creators of Microsoft






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






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






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






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






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






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






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






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






22. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






25. Sears.






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






27. Committed her life to social reform - immigrant committee






28. Most favored nation. Trade barriers raised.






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






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






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






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






33. Worlds largest provider of computer software for desktops.






34. Gold drain; exchange rates; free floating






35. Formalized business practices by standardized management practices.






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






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






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






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






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






41. Most women were stalled at middle management levels.






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






43. 1929 stock market crashed






44. Retailer - mail-order companies. Name brand products - advertising - catalogs.






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






46. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






48. Could only hire union workers. Illegal






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






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