Engineering Economics

What is the opposite of perfect competition?

Perfect monopoly exists only if:

A _______ is a market situation where economies of scale are so significant that costs are only minimized when the entire output of an industry is supplied by a single producer so that supply costs are lower under monopoly than under perfect competition

"When one of the factors of production is fixed in quantity or is difficult to increase, increasing the other factors of production will result in a less than proportionate increase in output". This statement is known as the:

What refers to the amount of product made available for sale?

"Under conditions of perfect competition, the price at which any given product will be supplied and purchased is the price that will result in the supply and demand being equal" This statement is known as the:

What do you call any particular raw material or primary product such as cloth, wool, flour, coffee, etc.?

What is defined as the interest on a load or principal that is based only on the original amount of the loan or principal?

One banker's year is equivalent to _______ days

What refers to the cumulative effect of elapsed time on the money value of an event, based on the earning power of equivalent invested funds capital should or will earn?

The difference between the present and future worth of money at some time in the future is called ________

What refers to the present worth of the probable future net earnings?

What refers to the ratio of the interest payment to the principal for a given unit of time and usually expressed as a percentage of the principal?

What is defined as the interest of loan or principal which is based not only on the original amount of the loan or principal but the amount of loaned or principal plus the previous accumulated interest?

What refers to the cost of borrowing money or the amount earned by a unit principal per unit of time?

What is defined as a financial security note issued by businesses or corporations and by the government as a means of borrowing long-term fund?

What refers to the present worth of all the amounts the bondholder will receive through his possession of the bond?

What is defined as the certificate of indebtness of corporation usually for a period not less than 10 years and guaranteed by a mortgage on certain assets of a corporation?

What refers to a document that shows proof of legal ownership of a financial security?

What type of bond is issued jointly by two or more corporations?