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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. Who concluded the treaty of commerce between England and Portugal in 1703?
(a) Mr. Methuen.
(b) Mr. Melkson.
(c) Mr. Metuel.
(d) Mr. Menchan.

2. What does an artificer who lives where there is either no uncultivated land, or none that can be had upon easy terms, do when he has acquired a little more stock than is necessary for carrying on his own business in supplying the neighboring country?
(a) He seeks to sell in distance towns.
(b) He reinvests his stock into his business.
(c) He buys land for improvement.
(d) He invests his stock in more workmen

3. What is true of both a farm and a retail trade?
(a) Each must invest their fixed capital.
(b) Each are confined to a precise spot.
(c) Each are suspectible to interest rates.
(d) Each are a mobile business.

4. How does that part of the annual production, which comes either from the ground or from the hands of the productive laborers and is destined for replacing capital, compare between rich and poor countries?
(a) It is greater in rich countries.
(b) It is greater in poor countries.
(c) It is less in poor countries.
(d) It is less in rich countries.

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

Short Answer Questions

1. What is a consequence of replacing gold money with paper money?

2. What is the sole end and purpose both of the fixed and circulating capitals?

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

4. Which profession is not an example of an artificer?

5. A part of which area was included in ancient Scythia?

(see the answer key)

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