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. Dominated the retail industry by mail order only selling.






2. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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






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






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






8. Setting of prices by mangers of large firms.






9. Gold drain; exchange rates; free floating






10. Free trade between US - Canada - Mexico






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






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






13. Most women were stalled at middle management levels.






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






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






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






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






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






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






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






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






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






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






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






25. 1929 stock market crashed






26. Let the people do as they please






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






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






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






30. 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.






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






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






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






34. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






36. Promote economic recovery in Europe.






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






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






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






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






41. First college of business.






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






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






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






45. Could only hire union workers. Illegal






46. Sears.






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






48. Corporate offices






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






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