|Name: _________________________||Period: ___________________|
This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. What opens an even more extensive market to every sort of industry?
(a) Improved inland transporation.
(c) Faster horses.
2. 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 overall time of production.
(c) It lengthens the time of production while producing a better product.
(d) It reduces the time for a product to be completed.
3. What do princes and sovereign states frequently do with their coinage?
(a) Augment the quantity of pure metal contained in their coins.
(b) Substitute the quantity of pure metal contained in their coins.
(c) Diminish the quantity of pure metal contained in their coins.
(d) Refuse to change the quantity of pure metal contained in their coins.
4. What kind of demand brings a commodity to market?
(a) An effectual demand.
(b) A natural demand.
(c) An absolute demand.
(d) A proportionate demand.
5. What does the text say about the difference of the natural talents in men?
(a) That all men have unique talents unto themselves.
(b) That they are not really that different.
(c) That talent is natural and cannot be cultivated or improved.
(d) That they are so different as so never to be changeable.
6. What is the common instrument of commerce and exchanges in Virginia?
7. How does an individual live within a civilized society?
(a) He needs the cooperation and assistance of only his friends.
(b) He needs the cooperation and assistance of many other people.
(c) His dependence or independence is entirely up to him.
(d) He is completely independent of other people.
8. A part of which area was included in ancient Scythia?
9. 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) Six weeks.
(b) Seven weeks.
(c) Four weeks.
(d) Five weeks.
10. What is one characteristics of a fixed capital?
(a) It never changes masters.
(b) It has no real master.
(c) It always changes masters.
(d) It goes back and forth between masters.
11. What kind of capital is employed in raising, manufacturing, or purchasing goods, and selling them again with a profit?
(a) Improving capital.
(b) Fixed capital.
(c) Circulating capital.
(d) Instrumental capital.
12. What limits the extent of the division of labor?
(a) The workmen.
(b) The population.
(c) The market.
(d) The raw products.
13. What is a consequence of replacing gold money with paper money?
(a) It costs less both to erect and to maintain.
(b) It promotes a new industry.
(c) It allows for more buying power.
(d) It allows for increased wages.
14. What kind of revenue constitutes the whole annual produce of the a country's land and labor?
(a) Consumption revenue.
(b) Net revenue.
(c) Gross revenue.
(d) Production revenue.
15. What is the common instrument of commerce and exchanges in some parts of the coast of India?
Short Answer Questions
1. Who are most likely to make improvements upon or invent new machines for manufacture?
2. According to the text, what does this saying describe: "Give me that which I want, and you shall have this which you want"?
3. By the nature of things, what must there be before the division of labor in a particular job?
4. The ordinary or average rates of wages, profit, and rent may also be called what?
5. Why are the silks of France better and cheaper than those of England?
This section contains 658 words
(approx. 3 pages at 300 words per page)