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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. Sought to break up the control of big business to create more opportunities.






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






3. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






4. Sears.






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






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






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






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






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






10. 1929 stock market crashed






11. Worlds largest provider of computer software for desktops.






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






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






14. Let the people do as they please






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






16. Free trade between US - Canada - Mexico






17. Interstate Commerce Commission was strengthened. Regulated rates.






18. Congress established a national banking system.






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






20. Committed her life to social reform - immigrant committee






21. 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.






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






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






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






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






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






27. Reduction in diversification. Reduction in layers of management.






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






29. Creators of Microsoft






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






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






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






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






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






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






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






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






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






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






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






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






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






43. A position of balance between investors - employees - consumers - competitors - and all others who may be interested in attitudes of management.






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






45. Formalized business practices by standardized management practices.






46. Promote economic recovery in Europe.






47. 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.






48. Gold drain; exchange rates; free floating






49. Could only hire union workers. Illegal






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







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