What makes a product economically viable?
Product viability indicates whether or not a particular product has commercial potential in terms of sufficient demand, ongoing interest and readiness to pay for a similar solution.
What is the definition of a viable?
1 : capable of living or growing viable seeds. 2 : possible to use or apply a viable plan. viable. adjective. vi·a·ble | \ ˈvī-ə-bəl \
What is economically sustainable?
Economic sustainability is an integrated part of sustainability and means that we must use, safeguard and sustain resources (human and material) to create long-term sustainable values by optimal use, recovery and recycling.
What is economic viability in agriculture?
Farming viability generally refers to the financial return from management of productive land. Some authors have augmented this income measure with a return to assets as a means to accommodate the actual financial return from land and capital.
What is viability and profitability?
Business viability means that a business is (or has the potential to be) successful. A viable business is profitable, which means it has more revenue coming in than it’s spending on the costs of running the business. If a business isn’t viable, it’s difficult to recover.
What does viable mean in business?
Business viability refers to a situation in which a business is surviving. This survival is linked to financial position and performance. A business is viable where either: it is returning a profit that is sufficient to provide a return to the business owner while also meeting its commitments to business creditors.
What is the synonym of viable?
In this page you can discover 20 synonyms, antonyms, idiomatic expressions, and related words for viable, like: workable, possible, within-reach, feasible, applicable, executable, reasonable, doable, practicable, unachievable and unreasonable.
What is the opposite word to viable?
Opposite of capable of working successfully. impracticable. impossible. unworkable. hopeless.
What is economic sustainability and examples?
Economic sustainability refers to practices that support long-term economic growth without negatively impacting social, environmental, and cultural aspects of the community. Ways to be economically sustainable: Easy: Donate $1 to Economics of Philanthropy in the non-profit sector through the UMW foundation.
What is one example of the economic sustainability?
This means that the public sector in particular will provide support to occupations and sectors that create a better environment and a better sense of well-being. Examples could be organic farming, green and socio-economic enterprises, etc.
What is economic viability in sustainable agriculture?
Economic viability is a necessary condition for sustainable agricultural and food systems. Profitability is a good place to begin. Evaluating the likely profitability of potentially more sustainable practices can start with budgeting. But economic viability is about more than profitability.
What does the term’economically viable’mean in economics?
, Amateur economist, self taught Austrian school. Economically viable means that a venture or project is able to continue to create or take in resources needed to sustain it, because consumers actually want the product or service it provide.
What does viable mean in the English Dictionary?
viable | Business English. able to be done or likely to succeed: commercially/economically/financially viable Rising oil prices have made alternative energy sources more economically viable. a viable business/company/market The fund exists to provide finance to viable businesses that have been rejected by mainstream lenders.
When does a project have economic viability?
Economic viability is when a project proves to be economically feasible, innovative and sustainable in terms of investing financial resources into the project.
Which is an example of economic viability in farming?
Using farming as an example, economic viability refers to the ability and capacity of a farm to ‘make a living’ annually. Part of the concept of economic viability is the implicit recognition that the enjoyment of? and effort put into? a project determines how a project or business grows and how often workers are replaced.
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