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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What does economic life refer to?
💡 Hint: Think about cost efficiency over time.
Question 2
Easy
What is downtime?
💡 Hint: Consider the impact on productivity.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is the economic life of a machine?
- The time when costs are maximized
- The time when costs are minimized
- A period of time without any costs
💡 Hint: Think about management strategies regarding expenses.
Question 2
True or False: Maintenance costs typically decrease as machinery ages.
- True
- False
💡 Hint: Consider the relationship between machine age and upkeep.
Solve 2 more questions and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A fleet manager must decide whether to keep an excavator that has increased its downtime cost to 25% of its operating cost. If the excavator's operating cost is 800 rupees per hour, should the manager replace it or keep it, considering the annual increase in operating costs?
💡 Hint: Think about the long-term costs versus immediate costs.
Question 2
Explain how technological advancements affect the economic life of machines. Provide examples of industries where this is particularly evident.
💡 Hint: Consider how trends might shift demand in various sectors.
Challenge and get performance evaluation