|Name: _________________________||Period: ___________________|
This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. In some measure, every man in a growing commercial society becomes what?
(a) A merchant.
(b) A tinker.
(c) A scholar.
(d) A farmer.
2. What is one characteristic of the Mediterranean Sea which made it favorable for infant navigation?
(a) No islands.
(b) Many harbors.
(c) No tides.
(d) Shallow water.
3. What was the original form of the metals used for commerce?
4. By the nature of things, what must there be before the division of labor in a particular job?
(a) The accumulation of stock.
(b) The distribution of goods.
(c) The acquistion of capital.
(d) The training of workmen.
5. What kind of rent comes to the landlord after deducting the expense of management, of repairs, and all other necessary charges?
(a) Production rent.
(b) Consumption rent.
(c) Net rent.
(d) Gross rent.
6. What is the ultimate and real standard by which the value of all commodities can, at all times and places, be estimated and compared?
7. What happens in every country that employs an increase in stock?
(a) The lesser quantity of industry produces produces a greater quantity of work.
(b) The same quantity of industry produces a lesser quantity of work.
(c) The same quantity of industry produces a greater quantity of work.
(d) The greater quantity of industry produces a greater quantity of work.
8. What is one consequence for society where the division of labor is practiced?
(a) Manufacturing is always growing.
(b) There is no unemployment.
(c) Wealth is enjoyed by even the lowest classes of people.
(d) All men are capable of learning a new trade.
9. According to the text, what does this saying describe: "Give me that which I want, and you shall have this which you want"?
(a) A business propostion.
(b) A fair trade.
(c) A mutual offer.
(d) A bargain.
10. 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) Four weeks.
(b) Five weeks.
(c) Seven weeks.
(d) Six weeks.
11. What kind of capital is employed in the improvement of land and in the purchase of useful machines and instruments of trade?
(a) Instrumental capital.
(b) Improving capital.
(c) Circulating capital.
(d) Fixed capital.
12. How are the dispositions that form the difference of talents of various professions considered?
(a) They are considered useful.
(b) They are considered a hindrance to progress.
(c) They are considered obstacles to overcome.
(d) They are considered inconsequential.
13. Why are the silks of France better and cheaper than those of England?
(a) Because there is little demand for English silk.
(b) Because silk manufacturing is not as well suited to the climate of England as it is to that of France.
(c) Because France has an extreme surplus of silk manufacturers.
(d) Because silk manufacturing is not popular in England.
14. Where are the separation of different trades and employments from one another generally found?
(a) In those countries which are have completed their industry and improvement.
(b) In those countries which have yet to pursue industry and improvement.
(c) In those countries which have the least degree of industry and improvement.
(d) In those countries which enjoy the highest degree of industry and improvement.
15. In the rude ages of society, what was the common instrument of commerce?
(b) Food stuffs.
Short Answer Questions
1. What do princes and sovereign states frequently do with their coinage?
2. Under what circumstance would every man have to perform exactly the same duties and do exactly the same work?
3. In every occupation, what is the general proportion between circulating and fixed capital?
4. What kind of revenue is made from the interest on money?
5. What is it called when gold purchases goods in one foreign country in order to supply the consumption of another?
This section contains 699 words
(approx. 3 pages at 300 words per page)