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. Gold drain; exchange rates; free floating






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






3. Worlds largest provider of computer software for desktops.






4. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






7. Let the people do as they please






8. 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.






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






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






11. Committed her life to social reform - immigrant committee






12. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






15. 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.






16. Provided national advertising and mass production






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






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






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






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






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






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






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






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






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






26. Most favored nation. Trade barriers raised.






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






28. Income people could do with as the pleased.






29. Creators of Microsoft






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






31. Congress established a national banking system.






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






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






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






35. Sears.






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






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






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






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






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






41. Corporate offices






42. Most women were stalled at middle management levels.






43. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






48. Reduction in diversification. Reduction in layers of management.






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






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