|Name: _________________________||Period: ___________________|
This test consists of 5 short answer questions and 1 (of 3) essay topics.
Short Answer Questions
1. During the sixteenth century, who claimed all of America as its own?
2. What is the old subsidy rule?
3. Before the American Revolution, what monopoly did Britain hold in Maryland and Virginia?
4. What gave Great Britain the monopoly of supplying the colonies with all the commodities of growth and manufacturing?
5. What is true of both a farm and a retail trade?
Essay Topic 1
Merchants and manufacturers desire the most extensive foreign sale for their goods but their home country has no jurisdiction in foreign nations. Consequently, they are obliged to petition for certain encouragements to exportation. These encouragements what are called drawbacks. Explain with examples how drawbacks work for both the exporting and importing country. What are the benefits and/or hindrances to both?
Essay Topic 2
As explained in the text, compare and contrast the land-carriage of goods to the water-carriage of goods.
Essay Topic 3
The text says "Labour measures the value not only of that part of price which resolves itself into labour, but of that which resolves itself into rent, and of that which resolves itself into profit." Explain with examples how the price of every commodity in every improved society finally resolves itself into all of those three parts.
This section contains 974 words
(approx. 4 pages at 300 words per page)