Practice Owning and Renting Equipment - 2.3 | 1. Planning Process of Equipment | Construction Engineering & Management - Vol 1
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Knowledge

2.3 - Owning and Renting Equipment

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Learning

Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What is one advantage of renting equipment?

💡 Hint: Think about expenses and commitments related to ownership.

Question 2

Easy

List one cost associated with owning equipment.

💡 Hint: Consider what happens when equipment 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 one primary consideration when deciding to own or rent construction equipment?

  • A. Weather conditions
  • B. Economic analysis
  • C. Equipment color

💡 Hint: 'Economic' involves assessing costs and benefits.

Question 2

True or False: Renting equipment eliminates all ownership costs.

  • True
  • False

💡 Hint: Does renting entirely remove costs?

Solve and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

A company is considering purchasing a high-end crane for $500,000. The crane will have ongoing operating costs of $50,000 per year, including maintenance and insurance. Alternatively, renting the crane costs $30,000 a month. Calculate the breakeven point when renting becomes more cost-effective.

💡 Hint: Set the costs of renting equal to the costs of owning and solve for x.

Question 2

Evaluate a scenario where a contractor chooses to rent a specialized machine for a small project over purchasing it. List factors that could influence this decision.

💡 Hint: Think about how often the equipment will be needed and the total cost of ownership.

Challenge and get performance evaluation