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






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






3. 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.






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






5. Most women were stalled at middle management levels.






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






7. Worlds largest provider of computer software for desktops.






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






9. Promote economic recovery in Europe.






10. Could only hire union workers. Illegal






11. Most favored nation. Trade barriers raised.






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






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






14. Corporate offices






15. Reduction in diversification. Reduction in layers of management.






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






17. A few firms dominate an industry. Price competition decreased.






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






19. Creators of Microsoft






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






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






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






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






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






25. Formalized business practices by standardized management practices.






26. Transportation. Airline Act. Rail Act. Motor Carrier Act.






27. Congress established a national banking system.






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






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






30. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






33. 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.






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






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






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






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






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






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






40. Income people could do with as the pleased.






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






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






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






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






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






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






47. Let the people do as they please






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






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






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







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