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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. Where do a merchant's or retailer's profits come from?
(a) From what they both buy and sell.
(b) From what they save.
(c) From what they sell.
(d) From what they buy.

2. What does the author consider to be a wasteful use of gold?
(a) Flatware.
(b) Goblets.
(c) Gilding and plating.
(d) Picture frames.

3. What regulates the price of every particular commodity?
(a) Labor and wages.
(b) Supply and demand.
(c) Profit and wages.
(d) Labor and profit.

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

5. What is another name for paper money?
(a) Promissory notes.
(b) Commerce notes.
(c) Circulating notes.
(d) Debtors' notes.

Short Answer Questions

1. What kind of rent is paid by a farmer?

2. What is true of both a farm and a retail trade?

3. What is the intention of the fixed capital?

4. How many general types of fixed capital are there?

5. How does division of labor affect the time required for the manufacturing process?

(see the answer key)

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