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






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






3. Congress established a national banking system.






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






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






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






7. Free trade between US - Canada - Mexico






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






9. Corporate offices






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






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






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






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






14. Most favored nation. Trade barriers raised.






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






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






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






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






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






20. Promote economic recovery in Europe.






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






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






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






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






25. Reduction in diversification. Reduction in layers of management.






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






27. Committed her life to social reform - immigrant committee






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






29. Sears.






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






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






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






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






34. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






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






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






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






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






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






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






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






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






47. Provided national advertising and mass production






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






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






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