Engineering Economics What is used to record historical financial transactions? General journal system Ledger system Bookkeeping system Balance check General journal system Ledger system Bookkeeping system Balance check ANSWER DOWNLOAD EXAMIANS APP
Engineering Economics What refers to the goods and services that are desired by human and will be acquired only after all the needs have been satisfied? Luxury Producer products Consumer products Necessity Luxury Producer products Consumer products Necessity ANSWER DOWNLOAD EXAMIANS APP
Engineering Economics What is a market situation whereby there is only one buyer of an item for which there is no goods substitute? Monopoly Oligopsony Oligopoly Monopsony Monopoly Oligopsony Oligopoly Monopsony ANSWER DOWNLOAD EXAMIANS APP
Engineering Economics A form of business firm which is owned and run by a group of individuals for their mutual benefit is called ______. Partnership Enterprise Corporation Cooperative Partnership Enterprise Corporation Cooperative ANSWER DOWNLOAD EXAMIANS APP
Engineering Economics “When one of the factors of production is fixed in quantity or is difficult to increase, increasing the other factors of production will result in a less than proportionate increase in output”. This statement is known as the: Law of demand Law of supply Law of diminishing return Law of supply and demand Law of demand Law of supply Law of diminishing return Law of supply and demand ANSWER DOWNLOAD EXAMIANS APP
Engineering Economics What refers to the cumulative effect of elapsed time on the money value of an event, based on the earning power of equivalent invested funds capital should or will earn? Present worth factor Yield Time value of money Interest rate Present worth factor Yield Time value of money Interest rate ANSWER DOWNLOAD EXAMIANS APP
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