The document discusses economic, environmental, and societal issues related to materials science and engineering. It covers three key factors that affect the cost of a product: component design, materials used, and manufacturing techniques. It also discusses issues of recyclability and disposability of materials, noting that the ideal material is completely recyclable or biodegradable. Metals are discussed as an example, noting that most alloys experience corrosion but some metals are toxic, and recycling quality diminishes with each cycle.