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Principles Of Engineering: Economics
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Avg score: 90% • Most missed: “Consider only differences in cash flows among investment alternatives”
Principles Of Engineering: Economics
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20 Questions

1. Money cannot be added or subtracted unless it occurs at the same point(s) in time

2. Two investment alternatives are equivalent if they have the same economic worth

3. Make investments that are economically justified

4. Compare the alternatives

5. Money has a time value

6. Identify the investment alternatives

7. To move money backward one time unit - DIVIDE by one plus the discount or interest rate

8. Risks and returns tend to be positively correlated

9. Define the planning horizon

10. Specify the discount rate

11. Money has a time value

12. Compare investment alternatives over a common period of time

13. Past costs are irrelevant in engineering economic analyses - unless they impact future costs

14. Perform supplementary analyses

15. Marginal revenue must exceed marginal cost

16. Select the preferred investment

17. To move money forward one time unit - MULTIPLY by one plus the discount or interest rate

18. Consider only differences in cash flows among investment alternatives

19. Estimate the cash flows

20. Choose the mutually exclusive investment alternative that maximizes economic worth

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