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






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






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






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






5. Let the people do as they please






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






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






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






9. Sears.






10. Setting of prices by mangers of large firms.






11. Most women were stalled at middle management levels.






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






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






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






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






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






17. Corporate offices






18. Reduction in diversification. Reduction in layers of management.






19. Income people could do with as the pleased.






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






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






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






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






24. Could only hire union workers. Illegal






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






26. Committed her life to social reform - immigrant committee






27. Promote economic recovery in Europe.






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






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






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






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






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






33. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






38. 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.






39. First college of business.






40. Formalized business practices by standardized management practices.






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






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






43. Provided national advertising and mass production






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






45. Congress established a national banking system.






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






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






48. Free trade between US - Canada - Mexico






49. 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.






50. 1929 stock market crashed