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Assume you are incubating a new business in the field of your specialization. } Ex. A...

Assume you are incubating a new business in the field of your specialization.
} Ex. A Civil Engineer may establish a contracting company , consulting company , property development company etc..
} List out the importance and usefulness of Engineering Economics and its components in the selected business scenario.
} Further, write about your opinion on studying engineering economics. (only a few lines are enough)
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Answer #1

We assume property development

2 Through Engeenering economics I can calculate proper cost of alternatives and can thus calculate prices that I should charge. It will also enable me to raise resources(both financial and material) in best possible manner and avoid unnecessary costs. It will also help me to manage my profits in best manner

3 it is important to study to manage wealth, help in starting business, it will also enable me to choose best loans for my study, avoid wastage of resouces, understand importance of sustainable development and means to achieve it and so on

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