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This quiz consists of 5 multiple choice and 5 short answer questions through End of Book 3 & Book 4, Chapter 1.

Multiple Choice Questions

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

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

3. When was the Bank of England incorporated?
(a) The 27th of July, 1693.
(b) The 27th of July, 1694.
(c) The 27th of July, 1696.
(d) The 27th of July, 1695.

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

5. What encourages every man to apply himself to an occupation and cultivate whatever talent he may possess for that particular business?
(a) The hope that his expertise will allow him to excel in even greater endeavors.
(b) The desire that the knowledge of his occupation will be passed down to his sons and grandsons.
(c) The knowledge that his surplus of production can be exchanged for something he needs.
(d) The knowledge that his productive life enriches the lives of others.

Short Answer Questions

1. How are capitals diminished?

2. What does the division of labor do for a manufacturer?

3. What bill was published by Alexander III in the 12th century?

4. What does an artificer who lives where there is either no uncultivated land, or none that can be had upon easy terms, do when he has acquired a little more stock than is necessary for carrying on his own business in supplying the neighboring country?

5. Which profession is not an example of an artificer?

(see the answer key)

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