Engineering Economics
A form of business organization in which a person conducts his business alone and entirely for his own profit, being solely responsible for all its activities and liabilities.

Sole proprietorship
Entrepreneurship
Corporation
Partnership

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Engineering Economics
Perfect monopoly exists only if:

the single vendor is the only one who has the permit to sell
the single vendor is the only one who has the knowledge of the product
the single vendor can prevent the entry of all other vendors in the market
the single vendor gets the absolute franchise of the product

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Engineering Economics
Pick up the correct reason for making conceptual (or preliminary) estimate from the following:

To check quotations from contractors and/or sub-contractors
To compute target estimate for the owner while drawing and specifications are in initial stage
All of these
To have a check on a definitive cost estimate

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