economic viability

Economic viability refers to the ability of a business, project, or initiative to generate enough income to cover its costs and remain sustainable over time. It assesses whether an idea can succeed financially by examining factors like revenue potential, expenses, and market conditions. If something is economically viable, it means that it can attract investment, create jobs, and contribute positively to the economy. Essentially, it’s about ensuring that resources are used effectively to achieve a profit, allowing the entity to thrive in a competitive environment.