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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 is a person's revenue equal to?
(a) The money left over after buying his necessities.
(b) The wages he is paid.
(c) The stock that is put into reserve.
(d) The quantity of comsumable goods he can purchase.

2. What commodity would a butcher be unlikely to exchange for?
(a) Cloth.
(b) Bread.
(c) Wine.
(d) Meat.

3. In modern armies, what is of more importance in determining the fate of battles?
(a) The expertise of the officers.
(b) Dexerity and skill of soldiers.
(c) Practice and drills.
(d) Prompt obedience to commands.

4. What causes the difference between a philosopher and a street porter?
(a) Natural talent and propensity.
(b) Habit, custom, and education.
(c) Birth, income, and upbringing.
(d) Opportunity, talent, and birth.

5. What are the people who employ their own capital called?
(a) Unproductive laborers.
(b) Productive laborers.
(c) Unproductive consumers.
(d) Productive consumers.

Short Answer Questions

1. What supplies the inhabitants of the town both with the materials of their work, and the means of their subsistence?

2. What is the only universal, only accurate measure of value, only standard by which we can compare the values of different commodities at all times and at all places?

3. What is one characteristic of the Mediterranean Sea which made it favorable for infant navigation?

4. Where should the capital of a manufacturer generally reside?

5. How many times more goods on a broad-wheeled wagon can be carried from London to Edinburgh by water-carriage in the same amount of time?

(see the answer key)

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