GOVERNMENT ENGINEERING COLLEGE, LAKHISARAI

Assignment No. 01
B.Tech (CE) Semester :- 6th
Sub -Economics estimation and Costing Submission Date: 26.10.2023

1. Define economics. State the nature of economic problem.

2. State the law of demand. Also explain the elasticity of demand.
3. Explain the types of estimates and elaborate preliminary and detailed estimates.
4. Define cost function along with short- and long-run cost.
5. Explain the law of supply. Also justify the role of supply in price in prime determination
imperfect competition.
6. Explain the characteristics of various types of market.
7. Explain the application of liner programming in economics. What is the impact of monetary
and fiscal policy tools on the economy? What is called security deposit? What do you mean
by lead and lift in earthwork estimation?
8. State the requirements of an estimate. List the factors to be considered while preparing
detailed estimate and explain briefly.
9. Explain the various features of BIM in estimation. What do you mean by liquidated damage?
What is called sinking fund?
10. Explain the effect of aggregate demand and supply over the engineering economics. What is
the importance of price escalation consideration in estimation of structures?
11. Explain the structure of productive activity in terms of Indian economy. What do you mean
by fiscal sector economy?
12. Explain the salient features of various methods for making economic studies.
13. Illustrate the meaning scope, and role of accounting.
14. What is the importance of specification? Write general specifications of a first class building.
What do you mean by arbitration?
15. What is a contract? Explain different types of contract. Write the advantage and
disadvantage of item rate contract. What do you mean by an unbalanced tender?