Practice Determining Economic Life - 5.2 | 15. Equipment Life and Replacement Analysis (Part-1) | Construction Engineering & Management - Vol 1
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Knowledge

5.2 - Determining Economic Life

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Learning

Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What is the economic useful life of a machine?

💡 Hint: Think about cost and profit balance.

Question 2

Easy

Define downtime in equipment management.

💡 Hint: Consider what happens when a machine breaks down.

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 main purpose of determining the economic useful life of a machine?

  • To assess compliance
  • To minimize costs
  • To decorate machinery

💡 Hint: Think about why businesses strive to make informed financial decisions.

Question 2

True or False: Downtime does not affect the operational cost of machinery.

  • True
  • False

💡 Hint: Consider what happens when machinery is not working.

Solve 2 more questions and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

A company spends $200,000 on an excavator that has a lifespan of 10 years. Calculate the economic life if maintenance costs rise significantly after year 6. When should they consider replacement?

💡 Hint: Consider both the cost of maintenance and potential earnings.

Question 2

During a downtime analysis, a machinery operator finds that a truck becomes idle when an excavator breaks down. How should they analyze the costs incurred due to this downtime?

💡 Hint: Consider total costs associated with idle equipment and lost production.

Challenge and get performance evaluation