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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 the common instrument of commerce and exchanges in some parts of the coast of India?
(a) Shells.
(b) Tobacco.
(c) Sugar.
(d) Salt.

2. What kind of capital is employed in the improvement of land and in the purchase of useful machines and instruments of trade?
(a) Circulating capital.
(b) Instrumental capital.
(c) Improving capital.
(d) Fixed capital.

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

4. What is the actual price at which any commodity is commonly sold called?
(a) The market price.
(b) The asking price.
(c) The prime price.
(d) The derived price.

5. In what country is the Ganges River?
(a) Italy.
(b) India.
(c) Bengal.
(d) Egypt.

Short Answer Questions

1. How are a philosopher and a street porter the same?

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

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

4. What does the author consider to be a wasteful use of gold?

5. Under division of labor, what generally supplies a man's wants?

(see the answer key)

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