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

2. What is the only universal, only accurate measure of value, only standard by which we can compare the values of different commodities at all times and at all places?
(a) Gem stones.
(b) Labor.
(c) Gold.
(d) Silver.

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

4. Which society sends the least number of men to war in proportion to the whole population?
(a) Civilized society.
(b) Agricultural society.
(c) Hunter society.
(d) Shepherd society.

5. What kind of business does not lend itself to many subdivisions of labor?
(a) Foundry.
(b) Textile manufacturing.
(c) Agriculture.
(d) Ship building.

Short Answer Questions

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

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

3. What is another name for paper money?

4. How long would it take for a broad-wheeled wagon, attended by two men, and drawn by eight horses, to carry four tons of goods between London and Edinburgh?

5. What tends to discourage every industry in a given nation and enable foreign markets to undersell goods even in the home market?

(see the answer key)

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