Engineering Economics - Study Mode
[#146] Under ordinary simple interest, how many days in one year?
Correct Answer
(B) 360
[#147] The original record of a business transaction is recorded in this book.
Correct Answer
(B) Journal
[#148] What are the common methods of computing depletion charge?
Correct Answer
(C) Unit method and percentage method
[#149] A factory operator bought a diesel generator set for P 10,000.00 and agreed to pay the dealer uniform sum at the end of each year for 5 years at 8% interest compounded annually, that the final payment will cancel the debt for principal and interest. What is the annual payment?
Correct Answer
(D) P 2,504.57
[#150] What refers to the goods and services that are desired by human and will be acquired only after all the needs have been satisfied?
Correct Answer
(C) Luxury
Explanation
Solution: In the context of engineering economics, luxury refers to goods and services that are desired by humans but are acquired only after all the basic needs (necessities) have been satisfied. Luxuries are typically non-essential items or services that provide comfort, pleasure, or prestige, but they are not essential for survival or basic functioning. Therefore, the correct option is Option C: Luxury .