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Engineering Economy

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

August 15, 2021January 21, 2019 by admin
What is defined as any tangible economic activity that contributes directly or indirectly to the satisfaction of human want ?

A. Services
B. Goods
C. Commodities
D. Goods or commodities

Categories Engineering Economy

What are the two classifications of goods and services ?

August 15, 2021January 21, 2019 by admin
What are the two classifications of goods and services ?

A. Local and imported
B. Raw and finished
C. Consumer and producer
D. Ready-made and made-to-order

Categories Engineering Economy

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

August 15, 2021January 21, 2019 by admin
What is defined as any tangible economic product that contributes directly or indirectly to the satisfaction of human want ?

A. Services
B. Goods
C. Commodities
D. Goods or commodities

Categories Engineering Economy

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

August 15, 2021January 21, 2019 by admin
What refers to the goods and services that are required to support human life, needs and activities ?

A. Producer products
B. Consumer products
C. Luxury
D. Necessity

Categories Engineering Economy

What refers to the exchange mechanism that brings together the sellers and the buyers of a product, factor of production or financial security ?

August 15, 2021January 21, 2019 by admin
What refers to the exchange mechanism that brings together the sellers and the buyers of a product, factor of production or financial security ?

A. Mall
B. Market
C. Store
D. Office

Categories Engineering Economy

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

August 15, 2021January 21, 2019 by admin
What refers to the goods and services that are desired by human and will be acquired only after all the needs have been satisfied ?

A. Producer products
B. Consumer products
C. Luxury
D. Necessity

Categories Engineering Economy

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

August 15, 2021January 21, 2019 by admin
What is considered as the basic consuming or demanding unit of a commodity ?

A. Seller
B. Manufacturer
C. Producer
D. Buyer or consumer

Categories Engineering Economy

What is a market situation whereby there is only one buyer of an item for which there is no goods substitute ?

August 15, 2021January 21, 2019 by admin
What is a market situation whereby there is only one buyer of an item for which there is no goods substitute ?

A. Monopsony
B. Monopoly
C. Oligopoly
D. Oligopsony

Categories Engineering Economy

What is defined as an entity which makes product, good or services available to buyer or consumer in exchange of monetary consideration ?

August 15, 2021January 21, 2019 by admin
What is defined as an entity which makes product, good or services available to buyer or consumer in exchange of monetary consideration ?

A. Seller
B. Manufacturer
C. Producer
D. Buyer or consumer

Categories Engineering Economy

What market situation exists where there are few sellers and few buyers ?

August 15, 2021January 21, 2019 by admin
What market situation exists where there are few sellers and few buyers ?

A. Oligopoly
B. Oligopsony
C. Bilateral oligopoly
D. Bilateral Oligopsony

Categories Engineering Economy
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