View a FREE sample

This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. What three ways do we obtain from one another the greater part of those mutual good offices which we stand in need of?
(a) By labor, by barter , or by charity.
(b) By labor, by charity, or by ingenuity.
(c) By ingenuity, by treaty, or by purchase.
(d) By treaty, by barter, or by purchase.

2. Which Mediterranean country seems to have been the first in which either agriculture or manufacturers were cultivated and improved to any considerable degree?
(a) Egypt.
(b) Greece.
(c) Turkey.
(d) Italy.

3. Which is not a reason for the increase of the quantity of work under division of labor?
(a) Time efficiencies.
(b) The increase of the workmen's dexterity.
(c) The employment of more workmen.
(d) The invention of machines which enable one man to do the work of many.

4. What do princes and sovereign states frequently do with their coinage?
(a) Refuse to change the quantity of pure metal contained in their coins.
(b) Substitute the quantity of pure metal contained in their coins.
(c) Augment the quantity of pure metal contained in their coins.
(d) Diminish the quantity of pure metal contained in their coins.

5. In what country is the Ganges River?
(a) India.
(b) Bengal.
(c) Italy.
(d) Egypt.

Short Answer Questions

1. How does an individual live within a civilized society?

2. How does division of labor affect the time required for the manufacturing process?

3. What kind of rent is paid by a farmer?

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

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

Short Essay Questions

1. In every society or neighborhood, how is an ordinary or average rate of rent regulated?

2. Why do commercial nations use coins of different kinds of metals?

3. What is the difference between the real price of a commodity and the nominal price of a commodity?

4. Who commonly makes improvements in manufacturing machinery?

5. Explain a farmer's fixed and circulating capital.

6. How is the circulating capital of a society different from that of an individual?

7. What are the two ways in which a capital may be employed so as to yield a revenue or profit to its employer.

8. Why is it difficult to determine the exchange value between two different kinds of labor?

9. How does private property change the land of any country?

10. How are the differences in men of different professions fostered?

(see the answer keys)

This section contains 1,155 words (approx. 4 pages at 300 words per page) View a FREE sample