View a FREE sample

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

Multiple Choice Questions

1. 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.

2. What three ways do we obtain from one another the greater part of those mutual good offices which we stand in need of?
(a) By treaty, by barter, or by purchase.
(b) By ingenuity, by treaty, or by purchase.
(c) By labor, by barter , or by charity.
(d) By labor, by charity, or by ingenuity.

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

4. According to the author why, two or three centuries before, were his British ancestors mostly idle concerning industry?
(a) There was no sufficient encouragement to industry.
(b) There was no sufficient encouragement to earn a wage.
(c) There was no sufficient wage to work in industry.
(d) There was no sufficient industry to work in.

5. What kind of revenue constitutes the whole annual produce of the a country's land and labor?
(a) Gross revenue.
(b) Net revenue.
(c) Consumption revenue.
(d) Production revenue.

Short Answer Questions

1. What becomes the common instrument of commerce when barter ceases?

2. In the ancient world, what was considered a most wonderful and dangerous exploit of navigation?

3. What does a man expect when he employs his stock as capital?

4. What is true about the amount of metal coins which circulate in a society?

5. What is the intention of the fixed capital?

(see the answer key)

This section contains 347 words (approx. 2 pages at 300 words per page) View a FREE sample