...Economics is the study of how men choose to use scarce or limited productive resources (land, labor, capital goods such as machinery, and technical knowledge) to produce various commodities (such as wheat, overcoats, roads, concerts, and yachts) and to distribute them to various members of society for their consumption...
Abstract
Engineering economics is the study of how engineers choose to optimize their designs and construction methods to produce objects and systems that will optimize their efficiency and hence the satisfaction of their clients. We discuss some relevant concepts in engineering economics. We begin with the analysis of production and operational costs, and benefit-cost analysis and end with the economic arguments that justify design for testability.
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Agrawal, V.D. A tale of two designs: the cheapest and the most economic. J Electron Test 5, 131–135 (1994). https://doi.org/10.1007/BF00972074
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DOI: https://doi.org/10.1007/BF00972074