ECON

Sabrina Mikhaela Canindo · 42問 · 1年前

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問題一覧

The science which studies human behavior as a relationship between ends and scarce means which have alternative uses.

Lionel Robbins, Economics

Comes in whenever more of one thing means less of another.

Fritz Machlup, Economics

The study of the use of scarce resources to satisfy unlimited human wants.

Richard Lipsey, Economics

The dollars and cents side of the decisions that engineers make or recommend as they work to position a firm to be profitable in a highly competitive marketplace.

William G. Sullivan, Elin M. Wicks C., Patrick Koelling, Engineering Economy

The analysis and evaluation of the factors that will affect the economic success of engineering projects to the end that a recommendation can be made which will ensure the best we of capital.

Hipolito B. Sta. Maria, Engineering Economy

Are those products or services that are required to support human life and activities, that will be purchased in somewhat the same quantity even though the price varies considerably.

Necessities

Are those products or services that are desired by humans and will be purchased if money is available after the required necessities have been obtained.

Luxuries

The quantity of a certain commodity that is bought at a certain price at a given place and time.

Demand

The quantity of a certain commodity that is offered for sale at a certain price at a given place and time.

Supply

All gifts of nature, such as: water, air, minerals, sunshine, plant and tree growth, as well as the land itself which is applied to the production process.

Land

The efforts, skills and knowledge of people which are applied to the production process.

Labor

Tools, buildings, machinery or things which have been produced which are used in further production.

Real Capital

Assets and money which are used in the production process.

Financial Capital

Education and training applied to labor in the production proccess.

Human Capital

A person or individual who wants to supply the product to the market, in order to make profit.

Entrepreneur

Usually invest their own capital in their business.

Entrepreneur

Carefully define the problem. Then the choice (decision) is among alternative. The alternatives need to be identified and then defined for subsequent analysis.

Develop the Alternatives

Only the differences in expected future outcomes among the alternatives are relevant to their comparison and should be considered in the decision.

Focus on the Differences

The prospective outcomes of the alternatives, economic and other, should be consistently developed from a defined viewpoint (perspective).

Use a Consistent Viewpoint

Used to enumerate as many of the prospective outcomes as possible will simplify the analysis of the alternatives.

Use a Common Unit of Measure

Selection of preferred alternative (decision maning) requires the use of a criterion (or several criteria.

Consider All Relevant Criteria

Are inherent in estimating the future outcomes of the alternatives and should be recognized in their analysis and comparison

Make Risk and Uncertainty Explicit

Improved decision-making results from an adaptive process; to the extent practicable, the initial projected outcomes of the selected alternative should be subsequently compared with actual results achieved.

Revisit Your Decision

Is the amount of money paid for the use of borrowed capital or the income produced by money which has been loaned.

Interest

Is calculated using the principal only, ignoring any interest that had been accrued in preceding periods.

Simple Interest

Is paid on short-term loans in which the time of the loan is measured in days.

Simple Interest

Is computed on the basis of 12 months of 30 days each or 360 days a year.

Ordinary Simple Interest

Is based on the exact number of days in a year, 365 days for an ordinary year and 366 days for a leap year.

Exact Simple Interest

Interest on top of interest.

Compound Interest

The cost of borrowing money.

Rate of Interest

The amount earned by a unit principal per unit time.

Rate of Interest

Specifies the rate of interest and a number of interest periods in one year.

Nominal Rate of Interest

The actual or exact rate of interest on the principal during one year.

Effective Rate of Interest

Interest earned in one year/ principal at the beginning of the year.

Effective Rate

Obtained by setting the sum of the values on a certain comparison or focal date of one set of obligations equal to the sum of the values on the same date of another set of obligations.

Equation of Value

The interest is compounded at the end of each finite-length period, such as a month, a quarter or a year.

Discrete Compounding

Is assumed that cash payments occur once per year, but the compounding is continuous throughout the year.

Continuous Compounding

__ on a negotiable paper is the difference between the present worth (the amount received for the paper in cash) and the worth of the paper at some time in the future (the face value of the paper or principal).

Discount

Interest paid in advance.

Discount

The discount on one unit of principal for one unit of time.

Rate of Discount

The increase in the prices for goods and services from one year to another, thus decreasing the purchasing power of money.

Inflation

The buying power of money decreases as costs increase.

Inflationary Economy

Is a series o equal payments occuring at equal periods of time.

Annuity

One where the payments are made at the end of each period.

Ordinary Annuity

(A/P, i%, n)

Capital Recovery Factor

(A/F, i%, n)

Sinking Fund Factor

One where the first payment is made several periods after the beginning of the annuity.

Deferred Annuity

One where the payments are made at the beginning of each period.

Annuity Due

One where the payments continue indefinitely.

Perpetuity

One of the most important applications of perpetuity.

Capitalized Cost

The sum of the first cost and the present worth of all costs of replacement, operation and maintenance for a long time or forever.

Capitalized Cost

Enumeration

Enumeration

42問 • 1年前

Sabrina Mikhaela Canindo · 260問 · 1年前

Identification

Identification

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Sabrina Mikhaela Canindo · 125問 · 1年前

Chapter 1

Chapter 1

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C1 part 2

C1 part 2

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Chap 1&2

Chap 1&2

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HUM

HUM

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Chap 3&4

Chap 3&4

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Lesson 2,3,4,5,6,7

Lesson 2,3,4,5,6,7

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Chap 1,2

Chap 1,2

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Lesson 1

Lesson 1

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Chap 3,4

Chap 3,4

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Chapter 2

Chapter 2

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Lesson 1&2

Lesson 1&2

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Lesson 3&4

Lesson 3&4

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Chapter 3

Chapter 3

Sabrina Mikhaela Canindo · 73問 · 1年前

Lesson 5,6&7

Lesson 5,6&7

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Chapter 4

Chapter 4

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(2)

(2)

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Chapter 5

Chapter 5

Sabrina Mikhaela Canindo · 60問 · 1年前

CE215

CE215

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MTE4

MTE4

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HUM

HUM

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DRAW

DRAW

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Chap1

Chap1

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MECH

MECH

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chap2

chap2

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draw

draw

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Enumeration

Enumeration

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ttr

ttr

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g ycu

g ycu

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ENUMERATION

ENUMERATION

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Enumeration

Enumeration

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Enumeration

Enumeration

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5-8

5-8

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Chapter 5

Chapter 5

Chap 6

Chap 6

Sabrina Mikhaela Canindo · 43問 · 1年前

Enumeration

Enumeration

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Enu2

Enu2

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Chap 7

Chap 7

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Enumeration

Enumeration

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Chap 8

Chap 8

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chap9

chap9

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Natural and Forest Resources

Natural and Forest Resources

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ECON

ECON

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MTE4 PREFI

MTE4 PREFI

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Water and Mineral Resources

Water and Mineral Resources

Sabrina Mikhaela Canindo · 56問 · 1年前

Food, Energy, Land Resources

Food, Energy, Land Resources

56問 • 1年前

Sabrina Mikhaela Canindo · 19問 · 1年前

CE215 PREFI

CE215 PREFI

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HUM PREFI

HUM PREFI

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Enumeration

Enumeration

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8,9

8,9

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10,11

10,11

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L10

L10

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L11

L11

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Identification

Identification

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Ident

Ident

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enu

enu

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officials

officials

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events

events

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Enumeration

Enumeration

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1-5

1-5

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2,3,4

2,3,4

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enu 2

enu 2

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ENU

ENU

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midterm

midterm

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2.1

2.1

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Mech E3

Mech E3

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Techno

Techno

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enu L1

enu L1

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Mech E2

Mech E2

14問 • 1年前

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1-5

1-5

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52問 • 1年前

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Book

Book

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80問 • 1年前

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Hum 3

Hum 3

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Obtaining Data

Obtaining Data

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