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

Multiple Choice Questions

1. What is the actual price at which any commodity is commonly sold called?
(a) The derived price.
(b) The prime price.
(c) The market price.
(d) The asking price.

2. According to Homer, how much did the armor of Diomede cost?
(a) Nine oxen.
(b) Ten oxen.
(c) Eight oxen.
(d) Eleven oxen.

3. How are the dispositions that form the difference of talents of various professions considered?
(a) They are considered a hindrance to progress.
(b) They are considered obstacles to overcome.
(c) They are considered inconsequential.
(d) They are considered useful.

4. The ordinary or average rates of wages, profit, and rent may also be called what?
(a) The derived rates.
(b) The common rates.
(c) The commodity rates.
(d) The natural rates.

5. What word expressed the weight or quantity of metal contained in the first coins?
(a) Purity.
(b) Denomination.
(c) Stamp.
(d) Fineness.

Short Answer Questions

1. To what price do all commodities gravitate?

2. What was the original form of the metals used for commerce?

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

4. What kind of business does not lend itself to many subdivisions of labor?

5. What does the author consider to be a wasteful use of gold?

(see the answer key)

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