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Introduction To Engineering Economy
Introduction To Engineering Economy
ECONOMY
THE ECONOMIC ENVIRONMENT
ENGINEERING
ECONOMY
is the analysis and the evaluation of the factors
that will affect the economic success of
engineering projects to the end that a
recommendation can be made which will insure
the best use of capital.
Engineering Economy is at the
heart of making decisions.
Consumer goods and services are
Consumer and those products or services that are
directly used by people to satisfy their
Producer wants.
Goods and Producer goods and services are
used to produce consumer goods and
Services services or other produces goods.
Necessities 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
Necessities and the price varies considerably.
Luxuries Luxuries 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.
DEMAND