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. Most favored nation. Trade barriers raised.






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






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






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






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






6. Committed her life to social reform - immigrant committee






7. Congress established a national banking system.






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






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






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






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






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






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






14. Corporate offices






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






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






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






18. Provided national advertising and mass production






19. 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.






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






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






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






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






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






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






26. Income people could do with as the pleased.






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






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






29. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






32. Most women were stalled at middle management levels.






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






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






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






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






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






38. Gold drain; exchange rates; free floating






39. Creators of Microsoft






40. Formalized business practices by standardized management practices.






41. Sears.






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






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






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






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






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






47. 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.






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






49. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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