Final answer:
Requirement, often related to design or employment specification, refers to a criterion necessary to achieve a particular goal.
Step-by-step explanation:
Requirement, in a business or engineering context, is commonly known as a specification or a need that has to be fulfilled. For example, when designing a new water purification system for a village, the requirements might specify the purity of the water, the rate of water production, and the lifetime of the system, especially considering that the system must operate without access to an electrical grid. In contrast, constraints refer to limitations that impact the design and implementation of a solution, such as cost constraints for design, fabrication, operation, and maintenance, as well as safety and environmental considerations.
These requirements and constraints are essential in formulating a problem statement that captures the scope and criteria for a successful solution. Returning to the example, a possible problem statement might detail the need for a water purification system that can sustain 50 people with a budget not exceeding $2 per thousand gallons over a 10-year period, encapsulating both the requirements and the financial and operational constraints.