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. Companies had the right to manage. Union leaders.






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






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






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






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






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






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






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






9. 1929 stock market crashed






10. Sears.






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






12. Setting of prices by mangers of large firms.






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






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






15. Worlds largest provider of computer software for desktops.






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






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






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






19. 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.






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






21. Committed her life to social reform - immigrant committee






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






23. Could only hire union workers. Illegal






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






25. Gold drain; exchange rates; free floating






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






27. 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.






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






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






30. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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






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






35. Provided national advertising and mass production






36. Congress established a national banking system.






37. Creators of Microsoft






38. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






42. Let the people do as they please






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






44. Income people could do with as the pleased.






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






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






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






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






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






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