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This quiz consists of 5 multiple choice and 5 short answer questions through End of Book 3 & Book 4, Chapter 1.

Multiple Choice Questions

1. What is the real price of a thing a person wants?
(a) The labor it takes to pay for it.
(b) The toil and trouble of acquiring it.
(c) The money it takes to purchase it.
(d) The price marked as its cost.

2. What does the part of the annual production of the land and labor of any country which replaces a capital do?
(a) It pays the wages of unproductive labour.
(b) It pays the wages of productive labour.
(c) It replaces the needed materials of manufacturing.
(d) It restores the depleted stock.

3. What happens if the supply of a commodity is greater than the demand for it?
(a) The merchant returns the goods.
(b) The commodity goes to waste.
(c) The price drops.
(d) The price rises.

4. What is the old subsidy rule?
(a) Drawbacks must preserve the natural division and distribution of labor in society.
(b) By act of parliment, duties are imposed only on foreign goods.
(c) Merchants were allowed to draw back half their duty on exported goods.
(d) Any particular employment cannot draw a greater share of capital to hinder they duty from other employments.

5. In what country is the Ganges River?
(a) Italy.
(b) Bengal.
(c) India.
(d) Egypt.

Short Answer Questions

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

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

3. What comes before convenience?

4. What to British manufacturers import from the coasts of the Baltic?

5. What is the common instrument of commerce and exchanges in Abyssinia?

(see the answer key)

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