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This quiz consists of 5 multiple choice and 5 short answer questions through Book 2, Chapter 5.

Multiple Choice Questions

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

2. What is one consequence of marketplace competition?
(a) It raises the profits of stock.
(b) It lowers the wages of labor.
(c) It lowers the need for workmen.
(d) It lowers the profits of stock.

3. When was the Bank of England incorporated?
(a) The 27th of July, 1693.
(b) The 27th of July, 1695.
(c) The 27th of July, 1694.
(d) The 27th of July, 1696.

4. What is true of both a farm and a retail trade?
(a) Each are a mobile business.
(b) Each must invest their fixed capital.
(c) Each are confined to a precise spot.
(d) Each are suspectible to interest rates.

5. How are capitals diminished?
(a) By parsimony.
(b) By industry.
(c) By revenue.
(d) By prodigality.

Short Answer Questions

1. What is the common instrument of commerce and exchanges in some parts of the coast of India?

2. What encourages every man to apply himself to an occupation and cultivate whatever talent he may possess for that particular business?

3. What happens when the demand of a commodity is larger than the supply?

4. What kind of rent comes to the landlord after deducting the expense of management, of repairs, and all other necessary charges?

5. What is another name for paper money?

(see the answer key)

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