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This quiz consists of 5 multiple choice and 5 short answer questions through Book 2, Chapter 3.

Multiple Choice Questions

1. How does that part of the annual production, which comes either from the ground or from the hands of the productive laborers and is destined for replacing capital, compare between rich and poor countries?
(a) It is less in rich countries.
(b) It is greater in rich countries.
(c) It is greater in poor countries.
(d) It is less in poor countries.

2. How are a philosopher and a street porter the same?
(a) Their goals for life would be very similar.
(b) Their first six years of life would have been very similar.
(c) Their family life would be very similar.
(d) Their desire and motivations would be very similar.

3. According to the author why, two or three centuries before, were his British ancestors mostly idle concerning industry?
(a) There was no sufficient encouragement to earn a wage.
(b) There was no sufficient industry to work in.
(c) There was no sufficient wage to work in industry.
(d) There was no sufficient encouragement to industry.

4. Which commodity is more susceptible to price variations?
(a) Corn.
(b) Gold.
(c) Linen.
(d) Wool.

5. What kind of demand brings a commodity to market?
(a) A proportionate demand.
(b) An absolute demand.
(c) A natural demand.
(d) An effectual demand.

Short Answer Questions

1. How are capitals diminished?

2. Commonly, why does man #1 help man #2?

3. What was one problem with the use of rude metals?

4. What are the two kinds of labor?

5. What happens when the demand of a commodity is larger than the supply?

(see the answer key)

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