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This quiz consists of 5 multiple choice and 5 short answer questions through End of Book 4 & Book 5, Chapter 1.

Multiple Choice Questions

1. Where should the capital of a manufacturer generally reside?
(a) At the most productive location.
(b) At a location within his country.
(c) At the cheapest location.
(d) At a location close to his raw materials.

2. Which Mediterranean country seems to have been the first in which either agriculture or manufacturers were cultivated and improved to any considerable degree?
(a) Turkey.
(b) Egypt.
(c) Greece.
(d) Italy.

3. What is the first part of capital use in every growing society?
(a) Inland commerce.
(b) Manufacturers.
(c) Agriculture.
(d) Foreign commerce.

4. What is the real measure of the exchangeable value of all commodities?
(a) Labor.
(b) Gold.
(c) Exchange of goods.
(d) Barter.

5. What kind of wine is not a European commodity?
(a) Bordeaux.
(b) Merlot.
(c) Madeira.
(d) Zinfadel.

Short Answer Questions

1. What regulates the price of every particular commodity?

2. What does the text say about the difference of the natural talents in men?

3. Where is the wool of southern Scotland manufactured?

4. Why isn't the wool of southern Scotland manufactured there?

5. What supplies the inhabitants of the town both with the materials of their work, and the means of their subsistence?

(see the answer key)

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