Mechanical engineers must consider economic factors when designing products from "summary" of Mechanical Engineering Principles by John Bird,Carl Ross,
When designing products, mechanical engineers must take into account various economic factors in order to ensure the success of the product in the market. These economic factors play a crucial role in determining the overall cost of the product, which ultimately affects its competitiveness and profitability. By considering these factors during the design process, engineers can make informed decisions that will help to optimize the cost of production and maximize the value of the product. One of the key economic factors that engineers must consider is the cost of materials. The choice of materials used in a product can have a significant impact on its overall cost, as different materials come with varying price tags. By selecting cost-effective materials that meet the required specifications and performance criteria, engineers can help to minimize the cost of production while still ensuring that the product mee...
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