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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. Dominated the retail industry by mail order only selling.






2. Let the people do as they please






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






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






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






6. Gold drain; exchange rates; free floating






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






8. 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.






9. Free trade between US - Canada - Mexico






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






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






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






13. Creators of Microsoft






14. Formalized business practices by standardized management practices.






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






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






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






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






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






20. Sears.






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






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






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






24. Provided national advertising and mass production






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






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






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






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






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






30. Promote economic recovery in Europe.






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






32. Income people could do with as the pleased.






33. Could only hire union workers. Illegal






34. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






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






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






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






41. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






46. Setting of prices by mangers of large firms.






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






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






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






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






Can you answer 50 questions in 15 minutes?



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