Question 1

What economics game theory concept is demonstrated by the Erie Canal public works project?

Accepted Answer

A) Nash equilibrium 
B) Lock-in 
C) Backwards induction 
D) Fair division 
E) Prisoner's dilemma 
A) Nash equilibrium 
B) Lock-in 
C) Backwards induction 
D) Fair division 
E) Prisoner's dilemma E

Question 2

What was one of the first plant/factory types to use the "American System" of manufacturing?

Accepted Answer

A) Firearms 
B) Steel 
C) Oil 
D) Automobiles 
E) Chemicals 
A) Firearms 
B) Steel 
C) Oil 
D) Automobiles 
E) Chemicals A

Question 3

What firm is generally regarded as being the first to extensively use mass production processes?

Accepted Answer

A) IBM 
B) Burroughs 
C) Remington Rand 
D) Ford 
E) Sears 
A) IBM 
B) Burroughs 
C) Remington Rand 
D) Ford 
E) Sears D

Question 4

What is a benefit of alliances and joint ventures over mergers and acquisitions?

Accepted Answer

A) Better organizational structure 
B) Scale savings 
C) Less vertical integration 
D) Less horizontal integration 
E) Lower likelihood of antitrust scrutiny 
A) Better organizational structure 
B) Scale savings 
C) Less vertical integration 
D) Less horizontal integration 
E) Lower likelihood of antitrust scrutiny

Question 5

Which of the following facets of modern financial infrastructure came as a result of deregulation in the 1970s and 1980s?

Accepted Answer

A) Separation of commercial and investment banking 
B) Enhanced role of central banks 
C) Increased regulation of securities markets 
D) Supply of debt and equity funding for firms that could not fund themselves through retained earnings 
E) The availability of large investment funds facilitating M&A to flourish 
A) Separation of commercial and investment banking 
B) Enhanced role of central banks 
C) Increased regulation of securities markets 
D) Supply of debt and equity funding for firms that could not fund themselves through retained earnings 
E) The availability of large investment funds facilitating M&A to flourish

Question 6

What significant transportation event brought about the first significant growth of the Great Lakes region?

Accepted Answer

A) Harnessing of the steam engine 
B) Invention of the screw propeller 
C) Opening of the Erie Canal 
D) Integration of railway system 
E) Invention of the railway system 
A) Harnessing of the steam engine 
B) Invention of the screw propeller 
C) Opening of the Erie Canal 
D) Integration of railway system 
E) Invention of the railway system

Question 7

What was a key factor that aided foreign steel producers in penetrating U.S.markets?

Accepted Answer

A) Shifting demand in the economy to "lighter" products 
B) Invention of the basic oxygen furnace 
C) Development of the continuous casting process 
D) U)S. steelmakers' commitment to "light" products 
E) Development of the electric arc furnace 
A) Shifting demand in the economy to "lighter" products 
B) Invention of the basic oxygen furnace 
C) Development of the continuous casting process 
D) U)S. steelmakers' commitment to "light" products 
E) Development of the electric arc furnace

Question 8

What was a key contribution to the dominance of the family-run small business in 1840?

Accepted Answer

A) Factories 
B) Infrastructure 
C) Raw Materials 
D) Management 
E) Laws 
A) Factories 
B) Infrastructure 
C) Raw Materials 
D) Management 
E) Laws

Question 9

What is a key issue facing managers of the 2000s with respect to production technology?

Accepted Answer

A) Using the technology while maintaining an adequate level of complexity vs. simplicity 
B) Balancing price of the technology with the benefits of its use 
C) The choice between reformulating strategies and reorganizing or using the technologies for incremental improvements 
D) Integrating CAD/CAM into their factories 
E) Ensuring all parties understand the technology 
A) Using the technology while maintaining an adequate level of complexity vs. simplicity 
B) Balancing price of the technology with the benefits of its use 
C) The choice between reformulating strategies and reorganizing or using the technologies for incremental improvements 
D) Integrating CAD/CAM into their factories 
E) Ensuring all parties understand the technology

Question 10

How have late 20ᵗʰ and 21ˢᵗ century communications technologies directly created global markets from products and services?

Accepted Answer

A) Created paperless communications 
B) Created seamless and instantaneous communications 
C) Decreased coordination for interfirm alliances 
D) Increased worker productivity 
E) Unflattened the world 
A) Created paperless communications 
B) Created seamless and instantaneous communications 
C) Decreased coordination for interfirm alliances 
D) Increased worker productivity 
E) Unflattened the world

Question 11

How has Atlanta been able to grow as a center of commerce despite its poor water and rail connections?

Accepted Answer

A) Widespread air transportation 
B) New government regulations 
C) Improved Financing 
D) Better Communications 
E) Better technology and innovation 
A) Widespread air transportation 
B) New government regulations 
C) Improved Financing 
D) Better Communications 
E) Better technology and innovation

Question 12

What caused railway transportation to remain the primary transportation source over trucking until World War II?

Accepted Answer

A) The country lacked of an interstate highway system 
B) Rail consolidation was more extensive 
C) Rail was faster, safer and more reliable 
D) Railroads could carry goods a further distance 
E) Companies preferred rail transportation for their goods 
A) The country lacked of an interstate highway system 
B) Rail consolidation was more extensive 
C) Rail was faster, safer and more reliable 
D) Railroads could carry goods a further distance 
E) Companies preferred rail transportation for their goods

Question 13

What significant government infrastructure project led to the development of national stock and commodity markets?

Accepted Answer

A) Transcontinental Railroad 
B) Erie Canal 
C) Union Pacific Railroad 
D) Prime Meridian Conference 
E) Central Pacific Railroad 
A) Transcontinental Railroad 
B) Erie Canal 
C) Union Pacific Railroad 
D) Prime Meridian Conference 
E) Central Pacific Railroad

Question 14

Which of the following government regulations on business conditions did not increase circa 1910?

Accepted Answer

A) Regulation on corporate governance 
B) Securities markets regulation 
C) Antitrust regulation 
D) Regulations on disability insurance provisions 
E) Regulations on insurance for widows and children 
A) Regulation on corporate governance 
B) Securities markets regulation 
C) Antitrust regulation 
D) Regulations on disability insurance provisions 
E) Regulations on insurance for widows and children

Question 15

By simultaneously halting air traffic and financial markets,what recent historical event highlighted the interdependence company infrastructure?

Accepted Answer

A) 2000 Presidential Election 
B) 2004 Olympics 
C) Fall of Enron 
D) September 11, 2001 
E) Hurricane Katrina 
A) 2000 Presidential Election 
B) 2004 Olympics 
C) Fall of Enron 
D) September 11, 2001 
E) Hurricane Katrina

Question 16

What does it mean for a manufacturing firm to vertically integrate?

Accepted Answer

A) Expand using established product technologies to offer a wider variety of products 
B) Reorganize management into semi-autonomous divisions 
C) Produce raw materials and distribute finished goods on their own 
D) Geographic distance between buyers and sellers 
E) Use management consultants to optimize processes 
A) Expand using established product technologies to offer a wider variety of products 
B) Reorganize management into semi-autonomous divisions 
C) Produce raw materials and distribute finished goods on their own 
D) Geographic distance between buyers and sellers 
E) Use management consultants to optimize processes

Question 17

Relaxing of government regulation of economic activities occurred during the second half of the 20ᵗʰ century for all of the following except:

Accepted Answer

A) Airline industry 
B) Workplace safety 
C) Banking industry 
D) Trucking 
E) Healthcare industry 
A) Airline industry 
B) Workplace safety 
C) Banking industry 
D) Trucking 
E) Healthcare industry

Question 18

What was the most significant development to the evolution of business circa 1910?

Accepted Answer

A) Railroad integration 
B) Telegraph communication expansion 
C) Banking and accounting standard practices 
D) Mass-production technology 
E) Advent of steam technology in railroads and shipping 
A) Railroad integration 
B) Telegraph communication expansion 
C) Banking and accounting standard practices 
D) Mass-production technology 
E) Advent of steam technology in railroads and shipping

Question 19

What mode of long-distance communication first laid the groundwork for today's modern communication forms?

Accepted Answer

A) U)S. Postal Service 
B) Private mail service 
C) Telegraph 
D) Telephone 
E) Railroad 
A) U)S. Postal Service 
B) Private mail service 
C) Telegraph 
D) Telephone 
E) Railroad

Question 20

What was the major role of private banks in the early 1800s?

Accepted Answer

A) Serve as an institution for deposits 
B) Issue credit 
C) Reduce the risk of price fluctuation 
D) Create futures markets 
E) Sell stocks 
A) Serve as an institution for deposits 
B) Issue credit 
C) Reduce the risk of price fluctuation 
D) Create futures markets 
E) Sell stocks

What economics game theory concept is demonstrated by the Erie Canal public works project?

What was one of the first plant/factory types to use the "American System" of manufacturing?

What firm is generally regarded as being the first to extensively use mass production processes?

What is a benefit of alliances and joint ventures over mergers and acquisitions?

Which of the following facets of modern financial infrastructure came as a result of deregulation in the 1970s and 1980s?

What significant transportation event brought about the first significant growth of the Great Lakes region?

What was a key factor that aided foreign steel producers in penetrating U.S.markets?

What was a key contribution to the dominance of the family-run small business in 1840?

What is a key issue facing managers of the 2000s with respect to production technology?

How have late 20ᵗʰ and 21ˢᵗ century communications technologies directly created global markets from products and services?

How has Atlanta been able to grow as a center of commerce despite its poor water and rail connections?

What caused railway transportation to remain the primary transportation source over trucking until World War II?

What significant government infrastructure project led to the development of national stock and commodity markets?

Which of the following government regulations on business conditions did not increase circa 1910?

By simultaneously halting air traffic and financial markets,what recent historical event highlighted the interdependence company infrastructure?

What does it mean for a manufacturing firm to vertically integrate?

Relaxing of government regulation of economic activities occurred during the second half of the 20ᵗʰ century for all of the following except:

What was the most significant development to the evolution of business circa 1910?

What mode of long-distance communication first laid the groundwork for today's modern communication forms?

What was the major role of private banks in the early 1800s?

Basic Microeconomic Principles

Economies of Scale and Scope

Agency and Coordination

The Vertical Boundaries of the Firm

Organizing Vertical Boundariesvertical Integration and Its Alternatives

Diversificationpart Threemarket and Competitive Analysis

Competitors and Competition

Strategic Commitment

The Dynamics of Pricing Rivalry

Entry and Exit

Industry Analysispart Fourstrategic Position and Dynamics

Strategic Positioning for Competitive Advantage

Sustaining Competitive Advantage

The Origins of Competitive Advantage, innovation, evolution, and Environment part Five internal Organization

Performance Measurement and Incentives in Firms

Strategy and Structure

Environment, power, and Culture

Filters

Exam 4: The Power of Principles - an Historical Perspective

What economics game theory concept is demonstrated by the Erie Canal public works project?

What was one of the first plant/factory types to use the "American System" of manufacturing?

What firm is generally regarded as being the first to extensively use mass production processes?

What is a benefit of alliances and joint ventures over mergers and acquisitions?

Which of the following facets of modern financial infrastructure came as a result of deregulation in the 1970s and 1980s?

What significant transportation event brought about the first significant growth of the Great Lakes region?

What was a key factor that aided foreign steel producers in penetrating U.S.markets?

What was a key contribution to the dominance of the family-run small business in 1840?

What is a key issue facing managers of the 2000s with respect to production technology?

How have late 20ᵗʰ and 21ˢᵗ century communications technologies directly created global markets from products and services?

How has Atlanta been able to grow as a center of commerce despite its poor water and rail connections?

What caused railway transportation to remain the primary transportation source over trucking until World War II?

What significant government infrastructure project led to the development of national stock and commodity markets?

Which of the following government regulations on business conditions did not increase circa 1910?

By simultaneously halting air traffic and financial markets,what recent historical event highlighted the interdependence company infrastructure?

What does it mean for a manufacturing firm to vertically integrate?

Relaxing of government regulation of economic activities occurred during the second half of the 20ᵗʰ century for all of the following except:

What was the most significant development to the evolution of business circa 1910?

What mode of long-distance communication first laid the groundwork for today's modern communication forms?

What was the major role of private banks in the early 1800s?

Basic Microeconomic Principles

Economies of Scale and Scope

Agency and Coordination

The Vertical Boundaries of the Firm

Organizing Vertical Boundariesvertical Integration and Its Alternatives

Diversificationpart Threemarket and Competitive Analysis

Competitors and Competition

Strategic Commitment

The Dynamics of Pricing Rivalry

Entry and Exit

Industry Analysispart Fourstrategic Position and Dynamics

Strategic Positioning for Competitive Advantage

Sustaining Competitive Advantage

The Origins of Competitive Advantage, innovation, evolution, and Environment part Five internal Organization

Performance Measurement and Incentives in Firms

Strategy and Structure

Environment, power, and Culture

Filters