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

2. Commonly, why does man #1 help man #2?
(a) Because man #2 has agreed to pay man #1.
(b) Because man #1 sees man #2's genuine need for help.
(c) Because man #1 derives personal benefit from helping man #2.
(d) Because man #1 has a capacity for benevolence.

3. What is one consequence for society where the division of labor is practiced?
(a) All men are capable of learning a new trade.
(b) There is no unemployment.
(c) Manufacturing is always growing.
(d) Wealth is enjoyed by even the lowest classes of people.

4. What does the division of labor do for a manufacturer?
(a) It simplifies the productive powers of labor.
(b) It increases the productive powers of labor.
(c) It complicates the productive powers of labor.
(d) It decreases the productive powers of labor.

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

Short Answer Questions

1. What is capital?

2. What kind of commodity must be sold quickly?

3. How many general types of circulating capital are there?

4. How many general types of fixed capital are there?

5. To what price do all commodities gravitate?

(see the answer key)

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