It is defined as the capacity of a commodity to satisfy human want.

• A. Satisfaction

• B. Luxury

• C. Necessity

• D. Utility

The addition cost of producing one more unit is

• A. Prime cost

• B. Marginal cost

• C. Differential cost

• D. Sunk cost

An association of two or more individuals for the purpose of engaging business for profit.

• A. Single proprietorship

• B. Party

• C. Corporation

• D. Partnership

These are products or services that are desired by human and will be purchased if money is available after the required necessities have been obtained.

• A. Commodities

• B. Necessities

• C. Luxuries

• D. Supplies

The worth of the property which is equal to the original cost less the amount which has been charged to depreciation.

• A. Scrap value

• B. Salvage value

• C. Book value

• D. Market value

The simplest form of business organization where in the business is own entirely by one person.

• A. Partnership

• B. Proprietorship

• C. Corporation

• D. Joint venture

This consists of a cash and account receivable during the next period or any other material which will be sold.

• A. Fixed assets

• B. Deferred charges

• C. Current asset

• D. Liability

A wrong act that causes injury to a person or property and for which allows a claim by the injured party to recover damages.

• A. Fraud

• B. Tort

• C. Libel

• D. Scam

Decreases in the value of a physical property due to the passage of time.

• A. Deflation

• B. Depletion

• C. Declination

• D. Depreciation

What is defines as the analysis and evaluation of the monetary consequences by using the theories and principles of economics to engineering applications, designs and projects?

• A. Economic Analysis

• B. Engineering cost analysis

• C. Engineering economy

• D. Design cost analysis