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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 common instrument of commerce and exchanges in Virginia?
(a) Tobacco.
(b) Salt.
(c) Sugar.
(d) Shells.

2. What is the whole annual produce of the land and labor of every country used for?
(a) Consumption and revenue.
(b) Stock and commerce.
(c) Manufacture and trade.
(d) Tax and employment.

3. What is the state of the greater part of the laboring poor in all countries?
(a) Their revenue is derived from their labor only.
(b) Their labor is sporadic and not continual.
(c) Their revenue is not enough for sustenance.
(d) Their labor is not enough for sustenance.

4. What happens when the quantity of silver increases?
(a) Its value is unaffected.
(b) Its value is diminished.
(c) Its value is increased.
(d) Its value is under appreciated.

5. 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 accident which resulted in positive change.
(c) It was an experiment which owners found to be advantageous.
(d) It was a consequence of the applied study of manufacturing.

Short Answer Questions

1. What determines the ordinary market price of land?

2. What kind of person depends chiefly on the benevolence of this fellow citizens?

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

4. The laborer is rich or poor, is well or ill rewarded, in proportion to what?

5. Which Mediterranean country seems to have been the first in which either agriculture or manufacturers were cultivated and improved to any considerable degree?

(see the answer key)

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