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






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






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






4. Use of stock tender to offer to buy a company that did not want to sell.






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






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






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






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






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






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






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






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






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






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






15. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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






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






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






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






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






23. 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.






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






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






26. 1929 stock market crashed






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






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






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






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






31. Gold drain; exchange rates; free floating






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






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






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






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






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






37. Sears.






38. Reduction in diversification. Reduction in layers of management.






39. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






40. Creators of Microsoft






41. Could only hire union workers. Illegal






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






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






44. Formalized business practices by standardized management practices.






45. Most favored nation. Trade barriers raised.






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






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






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






49. Corporate offices






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