Operating costs are incurred by the operation of physical plants or equipment needed to provide service

🎲 Try a Random Question  |  Total Questions in Quiz: 549  |  🧠 Study this quiz with Flashcards
This question is part of a full practice quiz:
Information Systems And Engineering Economics Practice Test Questions — practice the complete quiz, review flashcards, or try a random question.

A system is a group of interacting or interrelated elements that act according to a set of rules to form a unified whole. 
An 'information system' means a discrete set of information resources organized for the collection, processing, maintenance, use, sharing, dissemination, or disposition of information.

Engineering economics, previously known as engineering economy, is a subset of economics concerned with the use and "...application of economic principles" in the analysis of engineering decisions.
 


Operating costs are incurred by the operation of physical plants or equipment needed to provide service