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. Let the people do as they please






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






3. Transportation. Airline Act. Rail Act. Motor Carrier Act.






4. 1929 stock market crashed






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






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






7. Committed her life to social reform - immigrant committee






8. Provided national advertising and mass production






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






10. Interstate Commerce Commission was strengthened. Regulated rates.






11. Corporate offices






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






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






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






15. Income people could do with as the pleased.






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






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






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






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






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






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






22. Most favored nation. Trade barriers raised.






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






24. Creators of Microsoft






25. Formalized business practices by standardized management practices.






26. Reduction in diversification. Reduction in layers of management.






27. Worlds largest provider of computer software for desktops.






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






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






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






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






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






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






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






35. Gold drain; exchange rates; free floating






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






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






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






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






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






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






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






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






44. Congress established a national banking system.






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






46. Could only hire union workers. Illegal






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






48. Promote economic recovery in Europe.






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






50. 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.