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

Multiple Choice Questions

1. What opens an even more extensive market to every sort of industry?
(a) Faster horses.
(b) Land-carriage.
(c) Water-carriage.
(d) Improved inland transporation.

2. What can be said for division of labor for all kinds of manufacturing?
(a) Machines replace many workmen who are moved to other jobs.
(b) Division of labor does not affect the quantity of products manufactured.
(c) Many individuals and processes come together to complete a product.
(d) The quality of products manufactured are improved greatly.

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

4. Which Mediterranean country seems to have been the first in which either agriculture or manufacturers were cultivated and improved to any considerable degree?
(a) Turkey.
(b) Greece.
(c) Egypt.
(d) Italy.

5. What reduced the value of gold and silver in Europe in the 16th century?
(a) The discovery of mines in Peru.
(b) The depletion of mines in Europe.
(c) The depletion of mines in America.
(d) The discovery of mines in America.

Short Answer Questions

1. According to the text, what does this saying describe: "Give me that which I want, and you shall have this which you want"?

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

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

4. According to Homer, how much did the armor of Diomede cost?

5. What kind of commodity must be sold quickly?

(see the answer key)

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