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Test your basic knowledge |
Management 101: Business History
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Study First
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. Ultimate authority of nations economic well being shifted from private arena - to public arena.
Anti-trust Policy
Employment & Production Act
Horizontal Integration
Open Shop
2. A position of balance between investors - employees - consumers - competitors - and all others who may be interested in attitudes of management.
Open Shop
Functional Departmentalization
Salmon Chase
Corporate Management
3. Income people could do with as the pleased.
Employment & Production Act
Deregulation
Economic Prosperity
Disposable Income
4. Sec. of Treasury under lincoln. Father of national Banking system.
Sherman Anti-Trust Act
Employment & Production Act
Corporatism
Salmon Chase
5. President. Standard oil - american tobacco - us steel.
Corporatism
Conglomerates
William Taft
Employment & Production Act
6. Unsafe at any speed. Consumers should not automatically trust new products or the business that produced them.
Franklin Roosevelt
Keynes Economic Theory
Ralph Nader
Industrial Democracy
7. Increase consumer durables; increase service industries; trade - finance - transportation - and gov't
Post-Industrial Economy
Deregulation
Vertical Integration
Hostile Takeover
8. Could only hire union workers. Illegal
Andrew Carnegie
Sherman Anti-Trust Act
Hostile Takeover
Closed Shop
9. Purchases right to do business and usually pays a franchise fee plus royalty fee based on sales.
Franchisee
Employment & Production Act
Union Shop
Closed Shop
10. Defense department became a significant source for scientific and engineering. Led by private firms and university.
Herbert Hoover
Franchisee
Gilded Age
Military Industrial Complex
11. Interstate Commerce Commission was strengthened. Regulated rates.
Administrative pricing
Sears
Hepburn Act
Richard T. Ely
12. Provided national advertising and mass production
Franklin Roosevelt
Franchisor
Civil Rights Act
Bill Gates - Paul Allen
13. 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.
Corporate Management
Marketing
Trade
Franchisee
14. Eisenhower termed. Large companies received majority or military contracts. California boomed because of defense companies.
U.S Chamber of Commerce
Military Industrial Complex 2
New Individualism
Consequences of Mergers
15. Cooperative activity in the service of the public - exchanging information - eliminating waste - fostering labor management to improve the business system.
Francis Kellor
Mann-Elkins Act
Marshall Plan
New Individualism
16. Burden of proof to raise rates was now the responsibility of the railroads.
Mann-Elkins Act
Corporation
Most Favorited Nation
Du Pont
17. Alliance among public agencies - private firms and trade associations to handle international competitions.
Vertical Integration
Industrial Policy
Gilded Age
Franklin Roosevelt
18. Goal was to represent the interests of American business in general.
U.S Chamber of Commerce
Organization of Petroleum Exporting Countries
Populism
Salmon Chase
19. Background in railroad business. 1872 entered steel business. Sold to JP Morgan for $480 million dollars.
Monetarism
Andrew Carnegie
Richard T. Ely
Marketing
20. Companies organized their activities around a strategy that integrated careful observation of changing consumer tastes with design production and distribution.
Frederick Taylor
Marketing
Montgomery Ward
Organization of Petroleum Exporting Countries
21. Sears.
John D. Rockafeller
Leveraged Buyout
Functional Departmentalization
Montgomery Ward
22. Use of stock tender to offer to buy a company that did not want to sell.
Hostile Takeover
Franchisor
Mann-Elkins Act
Managerial Revolution
23. Business - not independent trade unions should look after the best interest of the workers.
Welfare Capitalism
William Taft
Military Industrial Complex
Anti-trust Policy
24. First college of business.
Welfare Capitalism
Civil War
Military Industrial Complex
University of PA
25. Partnership between business and government. Solve problems through scientific investigation. Society of Harmony
Corporation
Ralph Nader
Marketing
Military Industrial Complex
26. Paper currency issued by the government to finance to civil war.
Green Backs
Closed Shop
Bill Gates - Paul Allen
Progressivism
27. Companies would act responsibility toward the American public on matters as truth in advertising. Hiring of woman.
Civil War
Economic Prosperity
Taft Hartley Act
Social Responsibility
28. Oil supplies withheld; large - non fuel efficient car; More japanese cars sold; Ford - Chevy - Chrysler
Organization of Petroleum Exporting Countries
Booming American Automobile Industry
Franklin Roosevelt
Andrew Carnegie
29. Let the people do as they please
Taft Hartley Act
Union Shop
Business Bureaucracies
Laissez Faire
30. Setting of prices by mangers of large firms.
Most Favorited Nation
Administrative pricing
Military Industrial Complex 2
NAFTA
31. Unemployment rose to 25%; 110 - 000 business failed; Bank Holidays
Booming American Automobile Industry
Consumerism
The Great Depression
Horizontal Integration
32. Restraints of trade. Railroads could not collaborate to fix prices. Wasn't used until the 20th century.
Welfare Capitalism
Sherman Anti-Trust Act
Horizontal Integration
Consumerism
33. Lowest tariffs - easiest access to markets - and fewest restrictions. Granted any nation - had to be all nations.
Most Favorited Nation
Herbert Hoover
1913 Federal Reserve Board
Civil War
34. Worked divided by specific tasks. i.e. accounting - production - ect.
Marshall Plan
Decentralized Management
Laissez Faire
Functional Departmentalization
35. Workers would enjoy the rights of association and the ability to influence wage levels.
Functional Departmentalization
Deregulation
Richard T. Ely
Industrial Democracy
36. 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.
NAFTA
Industrial Democracy
Corporatism
Frederick Taylor
37. Employers can hire whoever they want. Both union and non union.
Vertical Integration
Open Shop
University of PA
Closed Shop
38. Leader of the new school economists. Rejected Laissez faire. Did not believe in government run business.
Military Industrial Complex 2
Richard T. Ely
Franchisee
Employment & Production Act
39. Inflation continued in the absence of robust economic growth.
Green Backs
Industrial Policy
Stagflation
Consequences of Mergers
40. Transportation. Airline Act. Rail Act. Motor Carrier Act.
Corporation
University of PA
The Great Depression
Deregulation
41. Control all aspects of an industry from raw materials to retail.
Leveraged Buyout
Taft Hartley Act
Civil War
Vertical Integration
42. Companies with many different divisions - usually 8 or more that make up and sell unrelated products.
Conglomerates
Hostile Takeover
Administrative pricing
Deregulation
43. Panic of 1907 - 5 members - foreign transactions went through NY.
Industrial Policy
Anti-trust Policy
1913 Federal Reserve Board
William Taft
44. Influenced by Army. Staff officers-strategic decisions - Line officers-carried out orders in field.
Sears
Administrative pricing
Business Bureaucracies
New Individualism
45. Urged the gov't to control the money supply in order to control inflation.
Sears
Monetarism
Conglomerates
1913 Federal Reserve Board
46. Developed the assembly line. Anti Union. Model T.
Union Shop
Employment & Production Act
Henry Ford
Functional Departmentalization
47. Oil refining business. He was the first billionaire.
John D. Rockafeller
Trade
Conglomerates
Sears
48. Most favored nation. Trade barriers raised.
Montgomery Ward
Managerial Revolution
U.S Chamber of Commerce
Trade
49. Retailer - mail-order companies. Name brand products - advertising - catalogs.
Mass Industry
Civil War
Vertical Integration
Conglomerates
50. Congress established a national banking system.
Open Shop
Herbert Hoover
Open Prices
Civil War