Engineering Economy MCQ Practice Questions (Civil)

Engineering Economics in Civil Engineering, also known generally as engineering economics, or alternatively engineering economy, is a subset of economics, more specifically, microeconomics. It is defined as a “guide for the economic selection among technically feasible alternatives for the purpose of a rational allocation of scarce resources.” Its goal is to guide entities, private or public, that are confronted with the fundamental problem of economics. This fundamental problem of economics consists of two fundamental questions that must be answered, namely what objectives should be investigated or explored and how should these be achieved? Economics as a social science answers those questions and is defined as the knowledge used for selecting among “ technically feasible alternatives for the purpose of a rational allocation of scarce resources.”  Correspondingly, all problems involving ” profit maximizing or cost-minimizing are engineering problems with economic objectives and are properly described by the label “engineering economy”

These questions will give you basic idea for Examination Preparation and/or interview on Engineering Economy Practice questions for Civil Engineering.

Please Note:

1. These questions are only for practice and understanding level of knowledge only. It is not necessary that these questions may or may not appear for examinations and/or interview questions

2. In this practice test, because of large amount of questions (around 74 questions) some of questions may have repeated

3. I had to put as 70% pass rate because there may also be wrong answers from my side.