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






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






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






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






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






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






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






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






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






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






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






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






13. Income people could do with as the pleased.






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






15. Gold drain; exchange rates; free floating






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






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






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






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






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






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






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






23. Committed her life to social reform - immigrant committee






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






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






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






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






28. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






30. Most favored nation. Trade barriers raised.






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






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






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






34. First college of business.






35. Creators of Microsoft






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






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






38. Let the people do as they please






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






40. Promote economic recovery in Europe.






41. Sears.






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






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






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






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






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






47. Corporate offices






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






49. Could only hire union workers. Illegal






50. Congress established a national banking system.