|Name: _________________________||Period: ___________________|
This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. In what country is the Ganges River?
2. To what price do all commodities gravitate?
(a) The nominal price.
(b) The effectual price.
(c) The natural price.
(d) The stated price.
3. What is true about the amount of metal coins which circulate in a society?
(a) They are equal to the revenue of the society.
(b) They have no relation to the revenue of the society.
(c) They can never be equal to the revenue of the society.
(d) They fluctuate the revenue of the society.
4. 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) Five weeks.
(b) Four weeks.
(c) Six weeks.
(d) Seven weeks.
5. What kind of rent is paid by a farmer?
(a) Production rent.
(b) Net rent.
(c) Consumption rent.
(d) Gross rent.
6. Commonly, why does man #1 help man #2?
(a) Because man #1 has a capacity for benevolence.
(b) Because man #1 sees man #2's genuine need for help.
(c) Because man #2 has agreed to pay man #1.
(d) Because man #1 derives personal benefit from helping man #2.
7. How many general types of fixed capital are there?
8. What is a common characteristic for a workman under division of labor?
(a) Every workman is equal to every other workman.
(b) Every workman has the means to improve himself.
(c) Every workman produces more than he needs.
(d) Every workman has increased purchasing power.
9. What was the original price, the first purchase cost, for all things?
(b) Exchange of goods.
10. What opens an even more extensive market to every sort of industry?
(a) Improved inland transporation.
(d) Faster horses.
11. What does the text say about the difference of the natural talents in men?
(a) That they are so different as so never to be changeable.
(b) That all men have unique talents unto themselves.
(c) That they are not really that different.
(d) That talent is natural and cannot be cultivated or improved.
12. Where are the separation of different trades and employments from one another generally found?
(a) In those countries which have the least degree of industry and improvement.
(b) In those countries which are have completed their industry and improvement.
(c) In those countries which have yet to pursue industry and improvement.
(d) In those countries which enjoy the highest degree of industry and improvement.
13. In the rude ages of society, what was the common instrument of commerce?
(d) Food stuffs.
14. What is the common instrument of commerce and exchanges in Abyssinia?
15. What is the intention of the fixed capital?
(a) To increase the speed of manufacturing.
(b) To decrease the overhead cost of manufacturing.
(c) To decrease the number of workmen needed.
(d) To increase the productive powers of labour.
Short Answer Questions
1. Under what circumstance would every man have to perform exactly the same duties and do exactly the same work?
2. What is capital?
3. What is the state of the greater part of the laboring poor in all countries?
4. What regulates the price of every particular commodity?
5. What is the nominal price of a commodity?
This section contains 607 words
(approx. 3 pages at 300 words per page)