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This quiz consists of 5 multiple choice and 5 short answer questions through End of Book 3 & Book 4, Chapter 1.

Multiple Choice Questions

1. What does a man expect when he employs his stock as capital?
(a) Wages.
(b) Labor.
(c) Reserve.
(d) Profit.

2. What does the division of labor do for a manufacturer?
(a) It complicates the productive powers of labor.
(b) It simplifies the productive powers of labor.
(c) It decreases the productive powers of labor.
(d) It increases the productive powers of labor.

3. How does division of labor affect the time required for the manufacturing process?
(a) It reduces the time between a workman's different tasks.
(b) It lengthens the time of production while producing a better product.
(c) It lengthens the overall time of production.
(d) It reduces the time for a product to be completed.

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

5. How long would it take for a broad-wheeled wagon, attended by two men, and drawn by eight horses, to carry four tons of goods between London and Edinburgh?
(a) Seven weeks.
(b) Four weeks.
(c) Six weeks.
(d) Five weeks.

Short Answer Questions

1. How are capitals increased?

2. Which commodity is more susceptible to price variations?

3. What is the third part of capital use in every growing society?

4. According to Homer, how much did the armor of Diomede cost?

5. How do most men choose to employ their capitals?

(see the answer key)

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