Chapter 5. Exchange in a Market
1. Are merchants producers of wealth, or are their profits merely subtracted from the wealth already produced?
2. Is the railroad productive? Why?
3. Give examples within your observation of improved productive processes increasing exchange; of the reverse.
4. Why is exchange profitable if it is fair?
5. Would doubling all commodities affect their exchange value?
6. Is part of a stock of goods ever worth more than the whole? Examples.
7. Do you ever take account of a difference of five cents in deciding whether to purchase?
8. Is barter more or less frequent now in America than formerly? In the world?
9. Is there any causal relationship between commerce and manufactures? If so, in what way?
10. In a time of high excitement gold was sold for more at one side of the room than at the other side; how account for this?
11. Give examples of, and reasons for, two prices in the same market.
12. What effect on prices should be expected from an invention that makes possible the carrying of fresh meat from South America to England?
13. Describe the method of selling any product you know about. What is the market in which it is sold?
Note.—See works cited: Smart, pp. 40-63; Böhm-Bawerk, 193-222; Wieser, 39-53.