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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. To what price do all commodities gravitate?
(a) The stated price.
(b) The natural price.
(c) The nominal price.
(d) The effectual price.

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

3. What word expressed the weight or quantity of metal contained in the first coins?
(a) Denomination.
(b) Stamp.
(c) Fineness.
(d) Purity.

4. What was the common instrument of commerce among the ancient Spartans?
(a) Gold.
(b) Copper.
(c) Silver.
(d) Iron.

5. Which country's inland navigation caused its early improvement?
(a) Egypt.
(b) Turkey.
(c) Italy.
(d) Greece.

Short Answer Questions

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

2. In the rude ages of society, what was the common instrument of commerce?

3. What kind of revenue is made from the interest on money?

4. Which occupation requires a great town?

5. What happens if the supply of a commodity is greater than the demand for it?

(see the answer key)

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