Identify which among principle of Engineering Economics it is:

Carefully define the problem! Then the choice (decision) is among alternatives. The alternatives need to be identified and then defined for subsequent analysis.

Identify which among principle of Engineering Economics it is:

Enumerate as many of the prospective outcomes as possible will simplify the analysis of the alternatives.

Identify which among principle of Engineering Economics it is:

The prospective outcomes of the alternatives, economic and other, should be consistently developed from a defined viewpoint(perspective).

Identify which among principle of Engineering Economics it is:

Selection of a preferred alternative (decision making) requires the use of a criterion (or several criteria). The decision process should consider both the outcomes enumerated in the monetary unit and those expressed in some other unit of measurement or made explicit in a descriptive manner.

Identify which among principle of Engineering Economics it is:

Improved decision making results from an adaptive process; to the extent practicable, the initial projected outcomes of the selected alternative should be subsequently compared with actual results achieved.

________ costs are those associated with an operation that varies in total with the quantity of output or other measures of activity level.

_______ costs are those unaffected by changes in activity level over a feasible range of operations for the capacity or capability available.

_______ is the additional cost (or revenue)

that results from increasing the output of a system by one (or more) units.

_______ costs are costs that can be reasonably measured and allocated to a specific output or work activity.

_______ are costs that are difficult to allocate to a specific output or work activity. Normally, they are costs allocated through a selected formula (such as proportional to direct labor hours, direct labor dollars, or direct material dollars) to the outputs or work activities.

_______ are planned costs per unit of output that are established in advance of actual production or service delivery.

_________ cost that involves payment of cash.

______ are costs that do not involve cash payments

______ cost is incurred because of the use of limited resources, such that the opportunity to use those resources to monetary advantage in an alternative use is foregone.