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 is a common characteristic for a workman under division of labor?
(a) Every workman has the means to improve himself.
(b) Every workman produces more than he needs.
(c) Every workman has increased purchasing power.
(d) Every workman is equal to every other workman.

2. How many times more goods on a broad-wheeled wagon can be carried from London to Edinburgh by water-carriage in the same amount of time?
(a) 45.
(b) 40.
(c) 50.
(d) 55.

3. By the nature of things, what must there be before the division of labor in a particular job?
(a) The accumulation of stock.
(b) The training of workmen.
(c) The distribution of goods.
(d) The acquistion of capital.

4. What is the state of the greater part of the laboring poor in all countries?
(a) Their labor is not enough for sustenance.
(b) Their labor is sporadic and not continual.
(c) Their revenue is not enough for sustenance.
(d) Their revenue is derived from their labor only.

5. What is the intention of the fixed capital?
(a) To increase the speed of manufacturing.
(b) To decrease the number of workmen needed.
(c) To decrease the overhead cost of manufacturing.
(d) To increase the productive powers of labour.

Short Answer Questions

1. What happens in every country that employs an increase in stock?

2. What three ways do we obtain from one another the greater part of those mutual good offices which we stand in need of?

3. Which Mediterranean country seems to have been the first in which either agriculture or manufacturers were cultivated and improved to any considerable degree?

4. What is another name for paper money?

5. What limits the extent of the division of labor?

Short Essay Questions

1. What two values does the workman add to manufactured materials?

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

3. In every society or neighborhood, how is the ordinary or average rate both of wages and profit regulated?

4. What was the purpose of the first public stamps affixed to metals?

5. Give an example of one kind of job which requires a great town.

6. Using an example from the text, explain how the value of the most precious metal used for coinage regulates the value of coins made with a lesser metal.

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 the division of labor not considered the effect of human wisdom?

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

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

(see the answer keys)

This section contains 1,087 words (approx. 4 pages at 300 words per page) View a FREE sample