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






2. Gold drain; exchange rates; free floating






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






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






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






6. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






10. Income people could do with as the pleased.






11. Paper currency issued by the government to finance to civil war.






12. 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.






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






14. Interstate Commerce Commission was strengthened. Regulated rates.






15. 1929 stock market crashed






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






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






18. Worlds largest provider of computer software for desktops.






19. Corporate offices






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






21. First college of business.






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






23. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






26. Creators of Microsoft






27. Committed her life to social reform - immigrant committee






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






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






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






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






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






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






34. Increase consumer durables; increase service industries; trade - finance - transportation - and gov't






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






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






37. Most favored nation. Trade barriers raised.






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






39. Let the people do as they please






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






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






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






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






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






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






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






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






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






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






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