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This quiz consists of 5 multiple choice and 5 short answer questions through End of Book 4 & Book 5, Chapter 1.

Multiple Choice Questions

1. Which commodity is more susceptible to price variations?
(a) Wool.
(b) Linen.
(c) Corn.
(d) Gold.

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

3. What causes the difference between a philosopher and a street porter?
(a) Habit, custom, and education.
(b) Natural talent and propensity.
(c) Opportunity, talent, and birth.
(d) Birth, income, and upbringing.

4. What was the common instrument of commerce among the ancient Romans?
(a) Gold.
(b) Silver.
(c) Copper.
(d) Iron.

5. In the rude ages of society, what was the common instrument of commerce?
(a) Food stuffs.
(b) Cattle.
(c) Labor.
(d) Textiles.

Short Answer Questions

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

2. What is one consequence of marketplace competition?

3. What happens if the supply of a commodity is greater than the demand for it?

4. What has increased in countries where interest on borrowed money has been prohibited by law?

5. In what country is the Ganges River?

(see the answer key)

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