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 supply and demand Law of diminishing return Law of demand Law of supply Law of supply and demand Law of diminishing return ANSWER DOWNLOAD EXAMIANS APP
Engineering Economics The difference between the present and future worth of money at some time in the future is called ______. Inflation Discount Depletion Deduction Inflation Discount Depletion Deduction ANSWER DOWNLOAD EXAMIANS APP
Engineering Economics What type of depreciation is due to the reduction of the physical ability of an equipment or asset to produce results? Design depreciation Demand depreciation Functional depreciation Physical depreciation Design depreciation Demand depreciation Functional depreciation Physical depreciation ANSWER DOWNLOAD EXAMIANS APP
Engineering Economics 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 Services Goods Commodities Goods or commodities ANSWER DOWNLOAD EXAMIANS APP
Engineering Economics The profit derived from a project or business enterprise without consideration of obligations to financial contributors and claims of others based on profit is known as ______. Earning value Gain Economic return Yield Earning value Gain Economic return Yield ANSWER DOWNLOAD EXAMIANS APP
Engineering Economics What is normally used to compare alternatives that accomplish the same purpose but have unequal lives? Annual cost method Present worth method Capitalized cost method MARR Annual cost method Present worth method Capitalized cost method MARR ANSWER DOWNLOAD EXAMIANS APP
EXAMIANS