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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.
Short Answer Questions
1. Why are new machines more likely to be invented under division of labor?
2. Where are the separation of different trades and employments from one another generally found?
3. What is the common instrument of commerce and exchanges in some parts of the coast of India?
4. How did the idea of division of labor come about?
5. Under division of labor, what generally supplies a man's wants?
Short Essay Questions
1. Why did the first recorded civilizations dwell on the coast of the Mediterranean Sea?
2. Give one example of how a country workman is obliged to apply himself to all the different branches of industry that employ the same sort of materials.
3. What would happen at the end of a war, if the enemy confiscated the gold upon which the losing country's paper money was based?
4. Who or what is involved in the manufacture and sale of a woolen coat?
5. How are the differences in men of different professions fostered?
6. How does the market limit the division of labor?
7. Why is the division of labor not considered the effect of human wisdom?
8. In every society or neighborhood, how is an ordinary or average rate of rent regulated?
9. Why was the assaying of precious metals originally a problem?
10. What two advantages did the banking companies of Scotland gain by dealing only with men who had frequent and regular operations with them?
Essay Topics
Write an essay for ONE of the following topics:
Essay Topic 1
Explain with examples how restraining, high duties, or absolute prohibitions on the importation of foreign goods that can be produced at home secure a domestic monopoly.
Essay Topic 2
Explain with examples, why bounties ought to be given only to those branches of trade which cannot be carried on without them.
Essay Topic 3
Merchants and manufacturers desire the most extensive foreign sale for their goods but their home country has no jurisdiction in foreign nations. Consequently, they are obliged to petition for certain encouragements to exportation. These encouragements what are called drawbacks. Explain with examples how drawbacks work for both the exporting and importing country. What are the benefits and/or hindrances to both?
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This section contains 1,091 words (approx. 4 pages at 300 words per page) |
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