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This quiz consists of 5 multiple choice and 5 short answer questions through Book 2, Chapter 1.

Multiple Choice Questions

1. What is one characteristic of the Mediterranean Sea which made it favorable for infant navigation?
(a) Shallow water.
(b) No tides.
(c) No islands.
(d) Many harbors.

2. How did the idea of division of labor come about?
(a) It was an accident which resulted in positive change.
(b) It was a consequence of the applied study of manufacturing.
(c) It was the propensity of human nature to truck, barter, and exchange one thing for another.
(d) It was an experiment which owners found to be advantageous.

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

4. What is the state of the greater part of the laboring poor in all countries?
(a) Their labor is sporadic and not continual.
(b) Their revenue is not enough for sustenance.
(c) Their labor is not enough for sustenance.
(d) Their revenue is derived from their labor only.

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

Short Answer Questions

1. What happens in every country that employs an increase in stock?

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 was the common instrument of commerce among the ancient Spartans?

4. What is the common instrument of commerce and exchanges in Abyssinia?

5. What was one problem with the use of rude metals?

(see the answer key)

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