Practice Introduction to Economic Life - 1.1 | 16. Economic Life of a Machine | Construction Engineering & Management - Vol 1
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1.1 - Introduction to Economic Life

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Learning

Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

Define economic life.

💡 Hint: Think about the concept of when it's most economical to use a machine.

Question 2

Easy

What happens to costs after the economic life of a machine?

💡 Hint: Consider what occurs as a machine ages.

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 economic life?

  • A period of high maintenance
  • The optimal period of cost efficiency
  • The duration of equipment ownership

💡 Hint: Think about when it’s best to use a machine.

Question 2

True or False? As a machine ages, its obsolescence cost decreases.

  • True
  • False

💡 Hint: Consider how new technology impacts older equipment.

Solve 1 more question and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

A construction company has a bulldozer with an initial cost of 50,00,000. If its maintenance costs increase by 10% each year and depreciates at a flat rate of 4,00,000 a year, when should they consider replacing it to minimize total costs?

💡 Hint: Consider both increasing maintenance costs and decreasing value.

Question 2

Evaluate the impact of inflation on the decision to replace equipment worth 30,00,000 with an expected inflation of 5% annually over the next five years. What will be the price of the new machine in five years?

💡 Hint: Use the formula for future value calculations.

Challenge and get performance evaluation