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This quiz consists of 5 multiple choice and 5 short answer questions through Forward - Chapter 3.

Multiple Choice Questions

1. In Chapter 2, the author discusses how the black rhinoceros is nearly extinct and that the horns are considered what?
(a) An alkaloid.
(b) An aphrodesiac.
(c) A poison.
(d) An evil potion.

2. What describes the extent to which time or effort is well used for the intended task or purpose?
(a) Efficiency.
(b) Intention.
(c) Reliability.
(d) Proximity.

3. OPEC is an intergovernmental organization of how many oil-producing countries?
(a) 12.
(b) 23.
(c) 5.
(d) 8.

4. Ross Perot ran for President of the United States in what year?
(a) 1988.
(b) 1992.
(c) 2002.
(d) 2000.

5. Michael Jensen is a professor at what university's business school?
(a) The University of Chicago.
(b) Yale University.
(c) Harvard University.
(d) Fordham University.

Short Answer Questions

1. What is a situation that involves losing one quality or aspect of something in return for gaining another quality or aspect?

2. What are negative results which occur while trying to achieve a goal for the common good?

3. What, according to the author, motivates talented teachers to leave to go onto other professions?

4. According to the principles of a market economy, if it's raining, it's time to sell what?

5. A market economy delegates resources to an area where they are what, according to the author in Chapter 1?

(see the answer key)

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