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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 is the sole end and purpose both of the fixed and circulating capitals?
(a) To maintain and augment the stock which may be reserved for immediate consumption.
(b) To maintain and augment the stock which may be sold for profit.
(c) To maintain and augment the stock which may be traded for needed goods.
(d) To maintain and augment the stock which may be used to expand the business.

2. What are the people who employ their own capital called?
(a) Productive laborers.
(b) Unproductive laborers.
(c) Productive consumers.
(d) Unproductive consumers.

3. In all countries, what do men prefer in exchange for commodities?
(a) Like goods.
(b) Gem stones.
(c) Labor.
(d) Precious metals.

4. Where is the wool of southern Scotland manufactured?
(a) London.
(b) Edinborough.
(c) Yorkshire.
(d) Cork.

5. How important is it that the merchant whose capital exports the surplus produce of any society be a native or a foreigner?
(a) It's importance depends on a number of factors.
(b) It is of little importance.
(c) It is of no importance at all.
(d) It is of utmost importance.

Short Answer Questions

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

2. What was unserviceable for corn merchants, exporters, and importers?

3. What is the real measure of the exchangeable value of all commodities?

4. How are almost all loans made?

5. Which commodity is more susceptible to price variations?

(see the answer key)

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