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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. The ordinary or average rates of wages, profit, and rent may also be called what?
(a) The derived rates.
(b) The natural rates.
(c) The common rates.
(d) The commodity rates.

2. How does division of labor affect the time required for the manufacturing process?
(a) It lengthens the time of production while producing a better product.
(b) It reduces the time for a product to be completed.
(c) It lengthens the overall time of production.
(d) It reduces the time between a workman's different tasks.

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

4. What limits the extent of the division of labor?
(a) The market.
(b) The population.
(c) The raw products.
(d) The workmen.

5. What becomes the common instrument of commerce when barter ceases?
(a) Money.
(b) Gem stones.
(c) Gold.
(d) Silver.

Short Answer Questions

1. What can be said for division of labor for all kinds of manufacturing?

2. What does the division of labor do for a manufacturer?

3. What kind of commodity must be sold quickly?

4. In what country is the Ganges River?

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

(see the answer key)

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