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. Congress established a national banking system.






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






3. Could only hire union workers. Illegal






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






5. 1929 stock market crashed






6. Worlds largest provider of computer software for desktops.






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






8. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






11. 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.






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






13. First college of business.






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






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






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






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






18. Reduction in diversification. Reduction in layers of management.






19. Income people could do with as the pleased.






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






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






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






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






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






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






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






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






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






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






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






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






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






33. Provided national advertising and mass production






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






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






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






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






38. Corporate offices






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






40. Setting of prices by mangers of large firms.






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






42. Promote economic recovery in Europe.






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






44. Gold drain; exchange rates; free floating






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






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






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. Interstate Commerce Commission was strengthened. Regulated rates.






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






50. Sears.