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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 are the three original sources of all revenue?
(a) Commerce, taxes, and trade.
(b) Profit, taxes, and commerce.
(c) Wages, profit, and rent.
(d) Trade, taxes, and wages.

2. Which commodity is more susceptible to price variations?
(a) Linen.
(b) Gold.
(c) Wool.
(d) Corn.

3. What kind of demand brings a commodity to market?
(a) An effectual demand.
(b) An absolute demand.
(c) A natural demand.
(d) A proportionate demand.

4. Under what circumstance would every man have to perform exactly the same duties and do exactly the same work?
(a) If there were no difference of talent.
(b) If there were no truck, barter, and exchange.
(c) If there were no organized society.
(d) If there were no manufacturers of commodities.

5. What kind of revenue is made from the interest on money?
(a) Laborless revenue.
(b) Taxable revenue.
(c) Derivative revenue.
(d) Renewable revenue.

Short Answer Questions

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

2. In all countries, what do men prefer in exchange for commodities?

3. What is the ultimate and real standard by which the value of all commodities can, at all times and places, be estimated and compared?

4. What opens an even more extensive market to every sort of industry?

5. Which occupation requires a great town?

(see the answer key)

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