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Engineering Economics

Engineering Economics
What is considered as the basic consuming or demanding unit of a commodity?

Buyer or consumer
Producer
Seller
Manufacturer

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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.

Entrepreneurship
Corporation
Sole proprietorship
Partnership

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Engineering Economics
Aside from many sellers and many buyers, which one is a characteristic of perfect competition?

Homogeneous product
Perfect information and absence of all economic friction
All of these
Free market entry and exit

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Engineering Economics
In what method of computing depreciation where it assumes that a sinking fund is established in which funds will accumulate for replacement purposes?

Straight line method
Sinking fund method
Sum-of-year digit method
Declining balance method

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Engineering Economics
Lands, buildings, plants and machineries are example of what type of asset?

Trade investment asset
Current asset
Intangible asset
Fixed asset

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Engineering Economics
What refers to the need, want or desire for a product backed by the money to purchase it?

Good
Product
Supply
Demand

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