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






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






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






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






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






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






7. Promote economic recovery in Europe.






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






9. 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.






10. Most women were stalled at middle management levels.






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






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






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






14. Worlds largest provider of computer software for desktops.






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






16. Let the people do as they please






17. Could only hire union workers. Illegal






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






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






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






21. Sears.






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






23. Most favored nation. Trade barriers raised.






24. First college of business.






25. Gold drain; exchange rates; free floating






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






27. Creators of Microsoft






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






29. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






32. 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.






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






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






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






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






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






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






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






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






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






42. Setting of prices by mangers of large firms.






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






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






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






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






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






48. Interstate Commerce Commission was strengthened. Regulated rates.






49. Reduction in diversification. Reduction in layers of management.






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