FREE ME Economic Considerations Questions and Answers
In which situation would using a high-performance, more expensive material be economically justified?
Using a more expensive, high-performance material is justified when it can reduce long-term costs by improving durability, lowering the need for maintenance, or enhancing the efficiency of the system over its lifecycle.
Which of the following is an example of a trade-off in materials engineering from an economic perspective?
This is a classic trade-off in materials engineering: opting for a less expensive material may reduce upfront costs but lead to higher maintenance costs over time, making it potentially less cost-effective in the long run.
How can advancements in materials engineering help reduce manufacturing costs?
Developing materials that require less energy during processing or manufacturing can significantly reduce production costs. This can lead to more efficient production methods and lower overall material costs.
Why is recyclability an important economic factor in materials engineering?
Recyclability is economically beneficial because it can reduce the need for raw materials and energy consumption, leading to lower production costs. Additionally, it helps companies meet environmental regulations and sustainability goals.
Which of the following is a key economic consideration when selecting a material for a project?
The cost and availability of a material are crucial economic factors in material selection. Engineers must balance material performance with cost-effectiveness, ensuring that the selected material fits within the project's budget without compromising quality.