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Engineering Economics - Elements (Exercise 1)

Authored by Rhodgene Carcuevas

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University

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Engineering Economics - Elements (Exercise 1)
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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is defines as the analysis and evaluation of the monetary consequences by using the theories and principles of economics to engineering applications. designs and projects?

Economic Analysis

Engineering cost analysis

Engineering economy

Design cost analysis

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is considered as the standard unit which forms the basis of a country's domestic money supply?

Monetary unit

Currency

Foreign exchange

Cash or check

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is defined as any tangible economic product that contributes directly or indirectly to the satisfaction of human want?

Services

Goods

Commodities

Goods or commodities

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is defined as any tangible economic activity that contributes directly or indirectly to the satisfaction of human want?

Services

Goods

Commodities

Goods or commodities

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the two classifications of goods and services?

Local and imported

Raw and finished

Consumer and producer

Ready-made and made-to-order

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What refers to the goods and services that are required to support human life, needs and activities?

Producer products

Consumer products

Luxury

Necessity

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What refers to the goods and services that are desired by human and will be acquired only after all the needs have been satisfied?

Producer products

Consumer products

Luxury

Necessity

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