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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 commodity would a butcher be unlikely to exchange for?
(a) Wine.
(b) Meat.
(c) Cloth.
(d) Bread.

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

3. How did the idea of division of labor come about?
(a) It was the propensity of human nature to truck, barter, and exchange one thing for another.
(b) It was an experiment which owners found to be advantageous.
(c) It was a consequence of the applied study of manufacturing.
(d) It was an accident which resulted in positive change.

4. 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 labor, by charity, or by ingenuity.
(c) By ingenuity, by treaty, or by purchase.
(d) By labor, by barter , or by charity.

5. How many ways are there to employ capital?
(a) 6.
(b) 5.
(c) 4.
(d) 3.

Short Answer Questions

1. How are capitals diminished?

2. Which occupation requires a great town?

3. What is the state of the greater part of the laboring poor in all countries?

4. Who besides productive and unproductive laborers are all equally maintained by the annual produce of the land and labor of the country?

5. What limits the extent of the division of labor?

(see the answer key)

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