economic feasibility study

An economic feasibility study evaluates whether a project, like starting a business or developing a new product, is financially viable. It examines costs, potential revenues, and market demand to determine if the investment will be worthwhile. The study considers factors like funding sources, competition, and potential risks. By analyzing these elements, stakeholders can make informed decisions about whether to proceed with the project, ensuring that resources are spent wisely and that the project has a good chance of success. Ultimately, it's about assessing if the expected benefits justify the anticipated costs.