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






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






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






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






6. 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.






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






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






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






10. Gold drain; exchange rates; free floating






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






12. Let the people do as they please






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






14. Interstate Commerce Commission was strengthened. Regulated rates.






15. Formalized business practices by standardized management practices.






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






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






18. First college of business.






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






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






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






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






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






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






25. Most favored nation. Trade barriers raised.






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






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






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






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






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






31. 1929 stock market crashed






32. Lowest tariffs - easiest access to markets - and fewest restrictions. Granted any nation - had to be all nations.






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






34. Free trade between US - Canada - Mexico






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






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






37. Committed her life to social reform - immigrant committee






38. Reduction in diversification. Reduction in layers of management.






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






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






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






42. Setting of prices by mangers of large firms.






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






44. Congress established a national banking system.






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






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






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






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






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






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







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