Figure of merit
| Stan Zurek, Figure of merit, Encyclopedia Magnetica,
Figures of merit are useful for comparison of specific feature in engineering applications. There can be several such characteristics, depending on the point of view, or the required physical performance required in a given device.
For example, ferromagnetic materials can be characterised by:
- mechanical strength - larger values permit operation under higher forces or rotational speeds
- Curie temperature - higher values permit operation at higher temperatures
- cost - important for commercial applications, in which the price of the final product is crucial for a commercial success
There is no single material which is “the best” for all applications. Specific devices require unique combinations of many such figures of merit, so that the device can be designed, manufactured, made available commercially, and operated reliably, as well as recycled at the end of life, or after a failure.
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