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






2. Purchases right to do business and usually pays a franchise fee plus royalty fee based on sales.






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






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






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






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






7. 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.






8. Setting of prices by mangers of large firms.






9. Promote economic recovery in Europe.






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






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






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






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






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






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






16. Corporate offices






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






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






19. Interstate Commerce Commission was strengthened. Regulated rates.






20. Reduction in diversification. Reduction in layers of management.






21. Worlds largest provider of computer software for desktops.






22. 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.






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






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






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






26. Sears.






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






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






29. Creators of Microsoft






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






31. Let the people do as they please






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






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






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






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






36. Free trade between US - Canada - Mexico






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






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






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






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






41. First college of business.






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






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






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






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






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






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






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






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






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