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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. What is the nominal price of a commodity?
2. What causes the difference between a philosopher and a street porter?
3. What kind of business does not lend itself to many subdivisions of labor?
4. Why are the silks of France better and cheaper than those of England?
5. Labor measures the value of price which resolves itself into labor, rent, and what one other thing?
Short Essay Questions
1. Who or what is involved in the manufacture and sale of a woolen coat?
2. Who commonly makes improvements in manufacturing machinery?
3. 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.
4. How does the multiplication of the productions of all the different arts, in consequence of the division of labor in a well-governed society, extend opulence to the lowest ranks of the people?
5. In all countries, why are precious metals the preferred means of commerce?
6. What was the purpose of the first public stamps affixed to metals?
7. Explain a farmer's fixed and circulating capital.
8. How is the circulating capital of a society different from that of an individual?
9. How do fixed capital and circulating money resemble each other?
10. Why is it difficult to determine the exchange value between two different kinds of labor?
Essay Topics
Write an essay for ONE of the following topics:
Essay Topic 1
The text says "Labour measures the value not only of that part of price which resolves itself into labour, but of that which resolves itself into rent, and of that which resolves itself into profit." Explain with examples how the price of every commodity in every improved society finally resolves itself into all of those three parts.
Essay Topic 2
Explain with examples the commerce that take place back and forth between the inhabitants of a town and the inhabitants of the country in a civilized society. What are the benefits to both? How does one area support the other area?
Essay Topic 3
What knowledge and ready organizational systems do colonists carry with them to build a new colony? How does the abundance of land affect the colonists' knowledge and systems?
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This section contains 1,136 words (approx. 4 pages at 300 words per page) |
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