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Subject - Engineering Economics and Management

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Quiz 1 Marks: 10 Time:15+5 Summer 2021 Section 4 1. Answer questions of the following table: a. What percentage of all b. When did Edison set new product & service up GE corporate R&D introductions fail to live lab and for what up to expectations? purpose? c. What is core message for Science and Jobs in Dr. Vannevar Bush's report d. How to define utility and marginal utility functions? 2 d. Why did Tata Nano fail? 2 2. Complete the following table: a. Why do people buy b. How much weight and products? price reduction microwave oven has experienced since its birth? c. What is the challenge for producers to meet consumer expectation? 3. Mathematically and visually show the concept of creating and increasing utility of products, like smartphone, by adding or improving features out of ECE ideas. 2+2 2 N 4. Complete following statements: write only missing keywords in sequence One of the major challenges in creating economic value out of ECE is to succeed in i. ECE ideas in the globally connected competitive market at profit. Human beings have inherent ability to observe the surroundings, form knowledge about relations between underlying variables in causing reoccurring phenomena and imagining the occurrence of effects due to the ii. manipulation of those variables. Due to iii. of ideas, quality of living standards or economic well-being faced early saturation in preindustrial age. the The utility produced by a feature keeps increasing with advancement, but the iv. utility due to progression keeps falling. Quiz 1 Marks: 10 Time:15+5 Summer 2021 Section 4 1. Answer questions of the following table: a. What percentage of all b. When did Edison set new product & service up GE corporate R&D introductions fail to live lab and for what up to expectations? purpose? c. What is core message for Science and Jobs in Dr. Vannevar Bush's report d. How to define utility and marginal utility functions? 2 d. Why did Tata Nano fail? 2 2. Complete the following table: a. Why do people buy b. How much weight and products? price reduction microwave oven has experienced since its birth? c. What is the challenge for producers to meet consumer expectation? 3. Mathematically and visually show the concept of creating and increasing utility of products, like smartphone, by adding or improving features out of ECE ideas. 2+2 2 N 4. Complete following statements: write only missing keywords in sequence One of the major challenges in creating economic value out of ECE is to succeed in i. ECE ideas in the globally connected competitive market at profit. Human beings have inherent ability to observe the surroundings, form knowledge about relations between underlying variables in causing reoccurring phenomena and imagining the occurrence of effects due to the ii. manipulation of those variables. Due to iii. of ideas, quality of living standards or economic well-being faced early saturation in preindustrial age. the The utility produced by a feature keeps increasing with advancement, but the iv. utility due to progression keeps falling