In single sampling plans by attributes, statistical and economical considerations have traditionally been discussed separately. An approach taking into account both considerations simultaneously would be more useful in terms o f quality assurance. The suggested model involves minimization o f the expected total cost comprising the inspection cost, the annoyance cost o f rejecting a lot and the cost o f outgoing defective items, while the producer's risk and consumer's risk are not allowed to be greater than specified values. To find the optimal sample size and the optimal acceptance number, a two stage solution method is proposed. The accuracy and the efficiency o f the solution procedure are tested on randomly generated problems, by comparing the solutions obtained by the proposed method to those obtained by enumeration. Sensitivity o f the model is discussed by analyzing the effects o f parameters on the optimal sampling plans.