|Name: _________________________||Period: ___________________|
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. What are the three original sources of all revenue?
(a) Wages, profit, and rent.
(b) Trade, taxes, and wages.
(c) Commerce, taxes, and trade.
(d) Profit, taxes, and commerce.
2. Which commodity is more susceptible to price variations?
3. What is the intention of the fixed capital?
(a) To decrease the overhead cost of manufacturing.
(b) To decrease the number of workmen needed.
(c) To increase the speed of manufacturing.
(d) To increase the productive powers of labour.
4. How are capitals diminished?
(a) By prodigality.
(b) By revenue.
(c) By parsimony.
(d) By industry.
5. Who are most likely to make improvements upon or invent new machines for manufacture?
(a) Those who work with or make the machines.
(b) The man who repairs and cleans the machines.
(c) The owner of the manufacturing process.
(d) The man who is responsible for the running of the manufacturing process.
Short Answer Questions
1. What was the first article in the treaty of commerce between England and Portugal?
2. What is the only universal, only accurate measure of value, only standard by which we can compare the values of different commodities at all times and at all places?
3. By the nature of things, what must there be before the division of labor in a particular job?
4. When was the Bank of England incorporated?
5. What happens if the supply of a commodity is greater than the demand for it?
This section contains 297 words
(approx. 1 page at 300 words per page)