View a FREE sample

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

Multiple Choice Questions

1. A part of which area was included in ancient Scythia?
(a) Bavaria.
(b) Euxine.
(c) Siberia.
(d) Siam.

2. What was the original form of the metals used for commerce?
(a) Lumps.
(b) Coins.
(c) Nuggets.
(d) Bars.

3. To what price do all commodities gravitate?
(a) The effectual price.
(b) The natural price.
(c) The stated price.
(d) The nominal price.

4. What is the nominal price of a commodity?
(a) The labor it took to produce it.
(b) The price of its raw materials.
(c) The price asked for it.
(d) The net profit for the seller.

5. 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) 40.
(b) 50.
(c) 45.
(d) 55.

Short Answer Questions

1. How does an individual live within a civilized society?

2. According to Homer, how much did the armor of Diomede cost?

3. What kind of demand brings a commodity to market?

4. Who are most likely to make improvements upon or invent new machines for manufacture?

5. What are the three original sources of all revenue?

(see the answer key)

This section contains 262 words (approx. 1 page at 300 words per page) View a FREE sample