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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. Who besides productive and unproductive laborers are all equally maintained by the annual produce of the land and labor of the country?
(a) Those who labor only for themselves.
(b) Those who are not citizens of the country.
(c) Those who do not labor at all.
(d) Those who labor in another country.

2. 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 fair trade.
(b) A bargain.
(c) A mutual offer.
(d) A business propostion.

3. How did the idea of division of labor come about?
(a) It was an experiment which owners found to be advantageous.
(b) It was a consequence of the applied study of manufacturing.
(c) It was the propensity of human nature to truck, barter, and exchange one thing for another.
(d) It was an accident which resulted in positive change.

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

5. What is the common instrument of commerce and exchanges in Abyssinia?
(a) Salt.
(b) Tobacco.
(c) Shells.
(d) Sugar.

Short Answer Questions

1. What kind of rent is paid by a farmer?

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

3. Under what circumstance would every man have to perform exactly the same duties and do exactly the same work?

4. What word expressed the weight or quantity of metal contained in the first coins?

5. What is a person's revenue equal to?

(see the answer key)

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