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. Formalized business practices by standardized management practices.






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






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






4. Free trade between US - Canada - Mexico






5. Creators of Microsoft






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






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






8. Gold drain; exchange rates; free floating






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






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






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






12. Sears.






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






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






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






16. Most women were stalled at middle management levels.






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






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






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






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






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






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






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






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






25. Income people could do with as the pleased.






26. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






31. Worlds largest provider of computer software for desktops.






32. 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.






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






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






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






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






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






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






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






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






41. 1929 stock market crashed






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






43. Promote economic recovery in Europe.






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






45. Reduction in diversification. Reduction in layers of management.






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






47. Could only hire union workers. Illegal






48. Setting of prices by mangers of large firms.






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






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