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






2. Let the people do as they please






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






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






5. Reduction in diversification. Reduction in layers of management.






6. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






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






13. First college of business.






14. Promote economic recovery in Europe.






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






16. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






18. Income people could do with as the pleased.






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






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






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






22. Sears.






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






24. Creators of Microsoft






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






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






27. Could only hire union workers. Illegal






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






29. Formalized business practices by standardized management practices.






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






31. Interstate Commerce Commission was strengthened. Regulated rates.






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






33. Corporate offices






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






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






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






37. Free trade between US - Canada - Mexico






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






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






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






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






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






43. Setting of prices by mangers of large firms.






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






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






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






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






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






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






50. 1929 stock market crashed