CHAPTER 7. WEALTH AND ITS INDIRECT USES

1. Give reasons for attributing exchange value to the waves of the ocean; to a waterfall, a water-wheel, a loom, a piece of cloth, a dress made of the cloth.

2. Show the connection between these things.

3. How can the use of a flock of sheep be of value to one who must return them all to the owner?

4. Why should the use of a machine that never can be a direct cause of gratification, have a value that men will pay for?

5. Give examples of wealth never becoming a direct cause of gratification, yet whose possession is greatly valued.

NOTE.--The conception in this chapter was ably presented by Böhm-Bawerk in _Capital and Interest_, Bk. III, ch. v, pp. 219-227. He does not, however, make use of it in a theory of rent.