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






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






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






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






5. Committed her life to social reform - immigrant committee






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






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






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






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






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






11. Worlds largest provider of computer software for desktops.






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






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






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






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






16. Most women were stalled at middle management levels.






17. Creators of Microsoft






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






19. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






20. 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.






21. Income people could do with as the pleased.






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






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






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






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






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






27. Sears.






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






29. Promote economic recovery in Europe.






30. Provided national advertising and mass production






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






32. Setting of prices by mangers of large firms.






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






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






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






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






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






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






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






40. Partnership between business and government. Solve problems through scientific investigation. Society of Harmony






41. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






45. Reduction in diversification. Reduction in layers of management.






46. Could only hire union workers. Illegal






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






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






49. Dominated the retail industry by mail order only selling.






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