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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. When was the Bank of England incorporated?
(a) The 27th of July, 1693.
(b) The 27th of July, 1694.
(c) The 27th of July, 1695.
(d) The 27th of July, 1696.

2. How many general types of circulating capital are there?
(a) Five.
(b) Two.
(c) Four.
(d) Three.

3. What is one consequence of marketplace competition?
(a) It lowers the wages of labor.
(b) It lowers the need for workmen.
(c) It lowers the profits of stock.
(d) It raises the profits of stock.

4. What is the sole end and purpose both of the fixed and circulating capitals?
(a) To maintain and augment the stock which may be reserved for immediate consumption.
(b) To maintain and augment the stock which may be used to expand the business.
(c) To maintain and augment the stock which may be sold for profit.
(d) To maintain and augment the stock which may be traded for needed goods.

5. What is the intention of the fixed capital?
(a) To increase the productive powers of labour.
(b) To decrease the overhead cost of manufacturing.
(c) To decrease the number of workmen needed.
(d) To increase the speed of manufacturing.

Short Answer Questions

1. What happens if the supply of a commodity is greater than the demand for it?

2. What kind of revenue is made from the interest on money?

3. What is one characteristics of a fixed capital?

4. What kind of business does not lend itself to many subdivisions of labor?

5. Why isn't the wool of southern Scotland manufactured there?

(see the answer key)

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