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1. What was "the great enigma" of Henry George's day? Is this still a problem - and a mystery - today?           | Text |

2. Complete this statement of the fundamental principle of political economy. People seek to satisfy their desires            | Text |

a. for power and influence first.
b. at the expense of others' desires.
c. as quickly as possible.
d. with the least irksome toil.
e. by cooperating with others.

3. What concept is missing from the "problem of scarcity" as it is construed by mainstream economics?           | Supplement |

4. Which of the following is an essential characteristic of wealth in political economy?            | Supplement |

a. It gives its owner higher social status.
b. People are willing to exchange their labor for it.
c. It can be used to settle debts.
d. It is necessary for survival.

5. Which of the following is not an essential characteristic of wealth in political economy?            | Supplement |

a. It satisfies human desires.
b. It exists independently of human labor.
c. It is a material thing.
d. It has a price.

6. Describe some of the confusions and ambiguities that surround the use of the term "wealth" by economists.            | Supplement |

7. The process of production is completed when            | Supplement |

a. all desires are satisfied.
b. there is no more unemployment.
c. wealth reaches the ultimate consumer.
d. goods leave the factory.
e. that steam whistle blows.

8. In economics, a thing has value when            | Supplement |

a. it has a price tag.
b. the government taxes it.
c. an individual wants to have it.
d. people will exchange goods or labor for it.
e. people are employed making it.

9. What is land, in political economy? Name the payment that land receives.            | Supplement |

10. What is labor, in political economy? Name the payment that labor receives.            | Text |

11. What is capital, in political economy? Name the payment that capital receives.            | Text | Supplement |

12. In political economy, money            | Text |

a. is absolutely necessary.
b. is the root of all evil.
c. isn't important; it all cancels out in the long run.
d. is not wealth.
e. must be stored up in order to pay wages.

13. This course keeps repeating the phrase "in political economy" because            | Supplement |

a. wealth distribution is our primary concern.
b. this is a political economy course.
c. political action is essential to economic justice.
d. different studies sometimes define terms differently.
e. all of the above.

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