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. Provided national advertising and mass production






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






3. Formalized business practices by standardized management practices.






4. Committed her life to social reform - immigrant committee






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






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






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






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






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






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






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






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






13. Income people could do with as the pleased.






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






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






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






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






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






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






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






21. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






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






26. First college of business.






27. Interstate Commerce Commission was strengthened. Regulated rates.






28. Sears.






29. Reduction in diversification. Reduction in layers of management.






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






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






32. Free trade between US - Canada - Mexico






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






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






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






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






37. Promote economic recovery in Europe.






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






39. Burden of proof to raise rates was now the responsibility of the railroads.






40. Let the people do as they please






41. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






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






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






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






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






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