QUESTIONS ON THE REQUIRED READINGS
1. Name some commodities which at one time or another have been used as money. (Carver, pages 215-216.)
2. Why were precious metals first coined? (Smith, chapter iv.)
3. What is meant by the phrase "Time is money"? (Carver, page 183.)
4. What is the function of the bank check? (Hayward, pages 58-60.)
5. Explain the meaning of scarcity. (Carver, page 203.)
6. What are the characteristics of a modern market? (Adams, pages 139- 148.)
7. What is meant by the "higgling of the market"? (Adams, page 139.)
8. What is the "first law of the market"? (Carver, page 201.)
9. What are the four industrial agencies on which the organization and practice of the modern market depend? (Adams, pages 148-152.)
10. What is meant by the "widening of the market"? (Carver, page 171.)
11. Explain the statement that "the division of labor is limited by the extent of the market." (Smith, chapter iii.)