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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 kind of person depends chiefly on the benevolence of this fellow citizens?
(a) A woman.
(b) A beggar.
(c) A child.
(d) An unemployed man.

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

3. What regulates the price of every particular commodity?
(a) Labor and wages.
(b) Profit and wages.
(c) Supply and demand.
(d) Labor and profit.

4. Under what circumstance would every man have to perform exactly the same duties and do exactly the same work?
(a) If there were no organized society.
(b) If there were no manufacturers of commodities.
(c) If there were no difference of talent.
(d) If there were no truck, barter, and exchange.

5. What three ways do we obtain from one another the greater part of those mutual good offices which we stand in need of?
(a) By labor, by barter , or by charity.
(b) By treaty, by barter, or by purchase.
(c) By ingenuity, by treaty, or by purchase.
(d) By labor, by charity, or by ingenuity.

Short Answer Questions

1. What opens an even more extensive market to every sort of industry?

2. What is the common instrument of commerce and exchanges in some parts of the coast of India?

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

4. How many general types of fixed capital are there?

5. How are a philosopher and a street porter the same?

(see the answer key)

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