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Economics 1 1

Content type

User Generated

Subject

Micro Economics

School

Saudi electronic university

Course

econ 101

Type

Homework

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ghpxrearnffn00

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College of Administrative and Financial Sciences

Deadline: End of Week 6 (13/8/2022)

Assignment 2

Course Name: Microeconomics

Student’s Name:

Course Code: ECON101

Student’s ID Number:

Semester: Summer

CRN:

Academic Year: 1442/1443 H

For Instructor’s Use only

Instructor’s Name:

Students’ Grade: / 15

Level of Marks: High/Middle/Low

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Question 1

systems engineering, engineers and management collaborate to design, build, integrate,

and maintain complex systems over their entire lifespans. Principles of systems thinking provide

the foundation of systems engineering. It is possible to describe a designed system as a collection

of components that operate together to achieve a given aim. With his applied generation method,

Elon Musk is able to design products that make efficient use of existing resources while also

reducing the consumption of more expensive ones (Ordóñez-Ordóñez, 2019). This method can

have a significant impact on the price of the goods. Because of this, this strategy is essential. It is

possible to make necessary product modifications while still maintaining required levels of

performance and reliability by utilizing risk assessment and design validation. When a product's

performance and reliability are improved, new competitive advantages can be achieved.

There is no barrier to rivalry, imitation, or creative destruction for Musk's inventions. A

product can be reengineered to have far greater performance and dependability than necessary by

incorporating new technologies. BOM and direct labor costs can both be significantly impacted

by over-engineering. And as a last option, Elon Must has implemented the consolidation of

materials, which has the potential to save the company a significant sum through efficiencies of

scale. So, should Elon Musk use multiple products and components composed of different

materials to keep making money? This might make it possible to use the same materials for

different areas of the project. This method can help you save money in two ways: by offering

volume discounts and by requiring you to have fewer supplies and parts on hand. It is possible to

increase production yields by selecting materials that are easy to handle.

Question 2

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College of Administrative and Financial Sciences Deadline: End of Week 6 (13/8/2022) Assignment 2 Course Name: Microeconomics Student’s Name: Course Code: ECON101 Student’s ID Number: Semester: Summer CRN: Academic Year: 1442/1443 H For Instructor’s Use only Instructor’s Name: Students’ Grade: / 15 Level of Marks: High/Middle/Low Question 1 systems engineering, engineers and management collaborate to design, build, integrate, and maintain complex systems over their entire lifespans. Principles of systems thinking provide the foundation of systems engineering. It is possible to describe a designed system as a collection of components that operate together to achieve a given aim. With his applied generation method, Elon Musk is able to design products that make efficient use of existing resources while also reducing the consumption of more expensive ones (Ordóñez-Ordóñez, 2019). This method can have a significant impact on the price of the goods. Because of this, this strategy is essential. It is possible to make necessary product modifications while still maintaining required levels of performance and reliability by utilizing risk assessment and design validation. When a product's performance and reliability are improved, new competitive advantages can be achieved. There is no barrier to rivalry, imitation, or creative destruction for Musk's inventions. A product can be reengineered to have far greater performance and dependability than necessary by inc ...
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