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

Multiple Choice Questions

1. What regulates the quantity of materials and provisions that a town buys?
(a) The quantity of manufacture they get from those in the country.
(b) The quantity of raw materials they get from those in the country.
(c) The quantity of work they sell to those in the country.
(d) The quantity of work the country has to sell.

2. Why are new machines more likely to be invented under division of labor?
(a) Men have more time to experiment with various options and potential improvements.
(b) Division of labor promotes speculation and new ideas to be tried.
(c) Men are more likely to discover more efficient methods of production when their entire focus is directed towards a single step of the process.
(d) New machines are required when labor has been divided.

3. How many general types of circulating capital are there?
(a) Five.
(b) Two.
(c) Three.
(d) Four.

4. 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 a consequence of the applied study of manufacturing.
(d) It was an experiment which owners found to be advantageous.

5. At the time the book was written, what commodity regulated the value of all other home-made commodities?
(a) Corn.
(b) Wheat.
(c) Textiles.
(d) Wine.

Short Answer Questions

1. What kind of revenue constitutes the whole annual produce of the a country's land and labor?

2. What do princes and sovereign states frequently do with their coinage?

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

4. What is one characteristic of the Mediterranean Sea which made it favorable for infant navigation?

5. What does the division of labor do for individual workmen?

(see the answer key)

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