Define Economic Viability and Explain the Factors Involved in Assessing

question 33

Essay

Define economic viability and explain the factors involved in assessing a firm's economic viability.

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Definitions:

Universal Products

Goods or services designed to be used or consumed by almost all consumers across different markets.

Identifiable

Capable of being recognized or distinguished from others, often through unique features, markings, or characteristics.

Macroenvironment

The broader external environment affecting an organization, including economic, demographic, legal, political, technological, and social-cultural factors.

Immediate Environment

The physical and social setting that directly surrounds something or someone, influencing their condition or behavior.