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What are the main considerations for deciding the limits of a particular part?

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What are the main considerations for deciding the limits of a particular part?

(a) Functional requirement

(b) Economics and interchangeability

(c) Interchangeability and functional requirement

(d) Interchangeability, functional requirement and economics

The question was posed to me in an online interview.

My question is taken from Interchangeability in portion Limits, Fits and Gauges of Engineering Metrology

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The correct option is (d) Interchangeability, functional requirement and economics

Easiest explanation: Functional requirements are related to the function of a component that is what is required to do. Interchangeability is for ease of replacement of part. Economics is related to the minimum cost and time.

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