ME 234 Lecture Notes - Lecture 11: European Cooperation In Science And Technology
Document Summary
The relationship between economics and the design is a significant factor in the effectiveness and competiveness of the product or system. The only major exception to this is sentimental value . Traditional: based on production of goods and services by individuals for their own consumption and exchanging their surplus products and services for other things they need, inefficient and small scale popular in small towns and villages. Capitalist/free-enterprise: based on the freedom of individuals to engage in economic activities as they wish in the pursuit of making profit, control comes from competition, perhaps the most prevalent economic system in the world today. Direct costs summation of all the costs directly related to the production of the product or system. Indirect costs costs incurred as a result of the support for the system. Total cost of a product combination of direct and indirect costs.
