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






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






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






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






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






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






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






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






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






10. 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.






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






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






13. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






17. Promote economic recovery in Europe.






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






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






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






21. Let the people do as they please






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






23. First college of business.






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






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






26. Committed her life to social reform - immigrant committee






27. 1929 stock market crashed






28. Most favored nation. Trade barriers raised.






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






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






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






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






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






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






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






36. Reduction in diversification. Reduction in layers of management.






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






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






39. 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.






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






41. Free trade between US - Canada - Mexico






42. Setting of prices by mangers of large firms.






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






44. Provided national advertising and mass production






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






46. Congress established a national banking system.






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






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






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






50. Most women were stalled at middle management levels.