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. Interstate Commerce Commission was strengthened. Regulated rates.






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






3. Purchases right to do business and usually pays a franchise fee plus royalty fee based on sales.






4. Most favored nation. Trade barriers raised.






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






6. Sears.






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






8. Congress established a national banking system.






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






10. Promote economic recovery in Europe.






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






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






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






14. 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.






15. Let the people do as they please






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






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






18. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






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






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






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






25. Income people could do with as the pleased.






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






27. 1929 stock market crashed






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






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






30. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






35. First college of business.






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






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






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






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






40. Most women were stalled at middle management levels.






41. 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.






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






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






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






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






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






47. Reduction in diversification. Reduction in layers of management.






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






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






50. Worlds largest provider of computer software for desktops.