|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through Book 2, Chapter 3.
Multiple Choice Questions
1. What regulates the price of every particular commodity?
(a) Profit and wages.
(b) Labor and wages.
(c) Supply and demand.
(d) Labor and profit.
2. According to Homer, how much did the armor of Diomede cost?
(a) Ten oxen.
(b) Eleven oxen.
(c) Eight oxen.
(d) Nine oxen.
3. What kind of rent comes to the landlord after deducting the expense of management, of repairs, and all other necessary charges?
(a) Consumption rent.
(b) Net rent.
(c) Gross rent.
(d) Production rent.
4. When was the Bank of England incorporated?
(a) The 27th of July, 1696.
(b) The 27th of July, 1693.
(c) The 27th of July, 1695.
(d) The 27th of July, 1694.
5. Which commodity is more susceptible to price variations?
Short Answer Questions
1. What was the original form of the metals used for commerce?
2. What are the two kinds of labor?
3. What is the common instrument of commerce and exchanges in Abyssinia?
4. What are the three original sources of all revenue?
5. How did the idea of division of labor come about?
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