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This quiz consists of 5 multiple choice and 5 short answer questions through Book 2, Chapter 1.

Multiple Choice Questions

1. What is capital?
(a) Stock from which revenue is expected.
(b) Stock reserved for future needs.
(c) Stock traded for other goods.
(d) Stock which a man consumes.

2. What opens an even more extensive market to every sort of industry?
(a) Water-carriage.
(b) Faster horses.
(c) Land-carriage.
(d) Improved inland transporation.

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

4. What is the common instrument of commerce and exchanges in some parts of the coast of India?
(a) Sugar.
(b) Shells.
(c) Salt.
(d) Tobacco.

5. What kind of capital is employed in raising, manufacturing, or purchasing goods, and selling them again with a profit?
(a) Fixed capital.
(b) Instrumental capital.
(c) Improving capital.
(d) Circulating capital.

Short Answer Questions

1. Originally, what did sailors fear?

2. What do princes and sovereign states frequently do with their coinage?

3. What was one problem with the use of rude metals?

4. What becomes the common instrument of commerce when barter ceases?

5. Which occupation requires a great town?

(see the answer key)

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