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This quiz consists of 5 multiple choice and 5 short answer questions through End of Book 4 & Book 5, Chapter 1.

Multiple Choice Questions

1. What regulates the price of every particular commodity?
(a) Labor and profit.
(b) Labor and wages.
(c) Supply and demand.
(d) Profit and wages.

2. Who established the French colony of St. Domingo?
(a) Farmers and fishermen.
(b) Freed slaves and bondmen.
(c) Merchants and traders.
(d) Pirates and freebooters.

3. What does the text say about the difference of the natural talents in men?
(a) That talent is natural and cannot be cultivated or improved.
(b) That they are not really that different.
(c) That all men have unique talents unto themselves.
(d) That they are so different as so never to be changeable.

4. What gave Great Britain the monopoly of supplying the colonies with all the commodities of growth and manufacturing?
(a) The Colonial Commerce Bill.
(b) The North American Trade Agreement.
(c) The Act for the Encouragement of Trade.
(d) The Trade Agreement of 1780.

5. What does a man expect when he employs his stock as capital?
(a) Wages.
(b) Profit.
(c) Labor.
(d) Reserve.

Short Answer Questions

1. To what price do all commodities gravitate?

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

3. Labor measures the value of price which resolves itself into labor, rent, and what one other thing?

4. How are capitals diminished?

5. 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?

(see the answer key)

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