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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 actual price at which any commodity is commonly sold called?
(a) The market price.
(b) The asking price.
(c) The prime price.
(d) The derived price.

2. What does the lender consider stock lent at an interest?
(a) An industry.
(b) A revenue.
(c) A profit.
(d) A capital.

3. Why isn't the wool of southern Scotland manufactured there?
(a) They don't have the capital to manufacture it.
(b) They don't have enough laborers to manufacture it.
(c) They don't have the factory to manufacture it.
(d) It's cheaper to manufacture it elsewhere.

4. As capital increases in any country, what happens to the profits which can be made by employing them ?
(a) They promote growth.
(b) They remain the same.
(c) They increase.
(d) They decrease.

5. What to British manufacturers import from the coasts of the Baltic?
(a) Sugar and rum.
(b) Cotton and linen.
(c) Molasses and sugar cane.
(d) Flax and hemp.

Short Answer Questions

1. What is the principal cause of the rapid progress of the American colonies?

2. In all countries, what do men prefer in exchange for commodities?

3. Why are the silks of France better and cheaper than those of England?

4. What does the division of labor do for a manufacturer?

5. Where does the town gain its wealth and subsistence from?

(see the answer key)

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