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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 characteristics of a fixed capital?
(a) It never changes masters.
(b) It always changes masters.
(c) It has no real master.
(d) It goes back and forth between masters.

2. Which is not a reason for the increase of the quantity of work under division of labor?
(a) The invention of machines which enable one man to do the work of many.
(b) Time efficiencies.
(c) The increase of the workmen's dexterity.
(d) The employment of more workmen.

3. What becomes the common instrument of commerce when barter ceases?
(a) Money.
(b) Gem stones.
(c) Gold.
(d) Silver.

4. According to Homer, how much did the armor of Diomede cost?
(a) Ten oxen.
(b) Eleven oxen.
(c) Eight oxen.
(d) Nine oxen.

5. How many general types of fixed capital are there?
(a) Five.
(b) Three.
(c) Four.
(d) Two.

Short Answer Questions

1. What kind of commodity must be sold quickly?

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

3. What is the sole end and purpose both of the fixed and circulating capitals?

4. What can be said for division of labor for all kinds of manufacturing?

5. Which Mediterranean country seems to have been the first in which either agriculture or manufacturers were cultivated and improved to any considerable degree?

(see the answer key)

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