13. How is price set or determined?


REQUIRED READINGS

1. Williamson, _Readings in American Democracy_, chapter viii.

Or all of the following:

2. Adams, _Description of Industry_, chapter viii.

3. Carver, _Elementary Economics_, chapters xix, xx, xxi, xxii, and
xxiv.

4. Hayward, _Money, What It Is and How to Use It_, chapter viii.

5. Smith, _Wealth of Nations_, Book 1, chapters iii and iv.


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.)