Final answer:
Product design and process selection are categorized under system design, which is crucial in ensuring that products meet customer needs and adhere to constraints through a structured design process.
Step-by-step explanation:
Product design and process selection are examples of decisions that fall under the category of system design. These decisions are integral to the development and manufacturing of products, ensuring that they meet customer needs and adhere to constraints. During the product design phase, there are typically a multitude of potential solutions, and the challenge is to select the optimum one through a structured design process. This involves criteria and constraints assessment, alongside a cost/benefit analysis, to make informed decisions. It is crucial for the design to be followed by an appropriate process selection to realize the product in a manufacturing system, which may include sourcing components and creating facilities, amongst others. Notably, system design is distinguished from system operation and financial planning, where decisions are centered around spending money for future profits through avenues like investors or stock sales.