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

Multiple Choice Questions

1. What is the principal cause of the rapid progress of the American colonies?
(a) Nearly their entire capitals are employed in settlements.
(b) Nearly their entire capitals are employed in land.
(c) Nearly their entire capitals are employed in commerce.
(d) Nearly their entire capitals are employed in agriculture.

2. What commodity would a butcher be unlikely to exchange for?
(a) Bread.
(b) Meat.
(c) Wine.
(d) Cloth.

3. How did the idea of division of labor come about?
(a) It was an experiment which owners found to be advantageous.
(b) It was a consequence of the applied study of manufacturing.
(c) It was the propensity of human nature to truck, barter, and exchange one thing for another.
(d) It was an accident which resulted in positive change.

4. What becomes the common instrument of commerce when barter ceases?
(a) Gem stones.
(b) Gold.
(c) Money.
(d) Silver.

5. How long would it take for a broad-wheeled wagon, attended by two men, and drawn by eight horses, to carry four tons of goods between London and Edinburgh?
(a) Six weeks.
(b) Five weeks.
(c) Four weeks.
(d) Seven weeks.

Short Answer Questions

1. Commonly, why does man #1 help man #2?

2. What supplies the inhabitants of the town both with the materials of their work, and the means of their subsistence?

3. In 1715, what was the name of the accumulated taxes which had been mortgaged for paying the bank annuity?

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. What goods are ordinarily prohibited from being imported to Britain?

(see the answer key)

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