Engineering Economy Archives

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

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

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Engineering Economy

What are the two classifications of goods and services ?

Engineering Economy / 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

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Engineering Economy

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

Engineering Economy / 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

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

Engineering Economy

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

Engineering Economy / 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

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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 ?

Engineering Economy / 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

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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 ?

Engineering Economy / 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

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

Engineering Economy

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

Engineering Economy / admin

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

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

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Engineering Economy

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

Engineering Economy / 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

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

Engineering Economy

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

Engineering Economy / 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

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

Engineering Economy

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

Engineering Economy / admin

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

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

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Engineering Economy