Fundamentals of Engineering Economics 1 Chapter One Quiz
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Questions and Answers

What is the first phase of the engineering process according to the text?

  • Market studies
  • Determination of objectives (correct)
  • Fabrication of new devices
  • Physical and economic feasibility
  • What does the success in the field of invention depend upon, according to the text?

  • Physical and economic feasibility
  • The fabrication of new devices
  • The limitation of engineer capability
  • The capacity of the invention to satisfy human wants (correct)
  • What is considered essential in most branches of modern engineering discipline, based on the text?

  • Determination of objectives
  • Physical and economic feasibility
  • Knowledge of sociology, psychology, and other related disciplines (correct)
  • Fabrication of new devices
  • When does the consideration for physical and economic feasibility come, according to the text?

    <p>When what is wanted has been determined</p> Signup and view all the answers

    What does the phase of engineering process involving the search for new objectives require knowledge of, according to the text?

    <p>Human wants and limitation of engineer capability</p> Signup and view all the answers

    What discipline related to the understanding of human nature is recognized to be essential in most branches of modern engineering discipline, based on the text?

    <p>Sociology, psychology, political science, literature</p> Signup and view all the answers

    What is the purpose of identifying strategic factors in the engineering process?

    <p>To identify factors that limit the success of an undertaking</p> Signup and view all the answers

    What is the role of the determination of means in the engineering process?

    <p>It explores different ways to alter strategic factors</p> Signup and view all the answers

    What is the primary input for the evaluation of engineering proposals in the engineering process?

    <p>Mathematical models</p> Signup and view all the answers

    What does engineering economic study primarily involve?

    <p>Determining whether capital should be invested in a project</p> Signup and view all the answers

    What is a key concept in making engineering decisions?

    <p>Evaluating the choice based on economic results</p> Signup and view all the answers

    What is the role of economic study in evaluating engineering proposals?

    <p>It deals with the difference in economic results of alternatives</p> Signup and view all the answers

    What does the identification of strategic factors help to do in the engineering process?

    <p>Locate factors that restrict the success of an undertaking</p> Signup and view all the answers

    What is the focus of engineering economic study?

    <p>To determine whether capital should be invested in a project</p> Signup and view all the answers

    What is meant by determination of means in the engineering process?

    <p>Exploring different ways to alter strategic factors</p> Signup and view all the answers

    What does the concept of economic differences between alternatives imply?

    <p>Basic and most important concept in engineering decisions</p> Signup and view all the answers

    What does the determination of objectives phase in the engineering process involve?

    <p>Conducting market studies to understand human wants</p> Signup and view all the answers

    What is recognized as essential in most branches of modern engineering disciplines?

    <p>Understanding of human nature</p> Signup and view all the answers

    What is the primary factor that determines success in the field of invention, according to the text?

    <p>Capacity of invention to satisfy human wants</p> Signup and view all the answers

    In the engineering process, when does the consideration for physical and economic feasibility come into play?

    <p>Once the desired objectives have been identified</p> Signup and view all the answers

    What is the focus of the phase in the engineering process that involves the search for new objectives?

    <p>Understanding human desires through market studies</p> Signup and view all the answers

    Which discipline-related knowledge is recognized as essential in most branches of modern engineering disciplines?

    <p>Understanding of human nature</p> Signup and view all the answers

    What is the main purpose of identifying strategic factors in the engineering process?

    <p>To focus concentration on areas where success is obtainable</p> Signup and view all the answers

    What is the primary input for the evaluation of engineering proposals in the engineering process?

    <p>Mathematical models</p> Signup and view all the answers

    What does the concept of economic differences between alternatives imply?

    <p>Most projects can be carried out in more than one way, involving economic differences</p> Signup and view all the answers

    What does the success in the field of invention depend upon, according to the text?

    <p>Creativeness and considering human and economic factors</p> Signup and view all the answers

    What does the phase of engineering process involving the search for new objectives require knowledge of, according to the text?

    <p>Strategic factors</p> Signup and view all the answers

    What is considered essential in most branches of modern engineering discipline, based on the text?

    <p>Understanding human nature</p> Signup and view all the answers

    What does the identification of strategic factors help to do in the engineering process?

    <p>Focus concentration on areas where success is obtainable</p> Signup and view all the answers

    What is the role of economic study in evaluating engineering proposals?

    <p>To determine whether capital should be invested in a project</p> Signup and view all the answers

    What is meant by determination of means in the engineering process?

    <p>It determines how to achieve objectives once strategic factors are identified</p> Signup and view all the answers

    What is the focus of engineering economic study?

    <p>To determine whether capital should be invested in a project or utilized differently</p> Signup and view all the answers

    Study Notes

    Engineering Process

    • The first phase of the engineering process involves the determination of objectives.
    • Success in the field of invention depends upon the knowledge of human nature and the ability to identify strategic factors.

    Determination of Objectives

    • In this phase, the engineer searches for new objectives, requiring knowledge of psychology, which is essential in most branches of modern engineering disciplines.

    Strategic Factors

    • Identifying strategic factors helps to determine the feasibility of a project and evaluate engineering proposals.

    Feasibility

    • Consideration for physical and economic feasibility comes into play after the determination of objectives.

    Economic Study

    • Economic study plays a crucial role in evaluating engineering proposals, focusing on the economic differences between alternatives.
    • The primary input for the evaluation of engineering proposals is economic feasibility.

    Means and Objectives

    • Determination of means involves finding the methods to achieve the objectives.
    • The primary focus of the phase involving the search for new objectives is to determine the objectives.

    Key Concepts

    • A key concept in making engineering decisions is economic feasibility.
    • Engineering economic study primarily involves evaluating the economic differences between alternatives.

    Human Factor

    • Psychology is recognized as essential in most branches of modern engineering disciplines, as it helps understand human nature.

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    Description

    Test your understanding of Chapter One: Definition and Scope of Engineering Economics, including topics like the engineering process and determination of objectives.

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