Economic viability refers to the ability of a project or business to generate sufficient profit to sustain itself over time. It involves assessing various factors such as costs, revenues, and market conditions to determine whether an initiative can be successful in the long run. A viable economic plan ensures that resources are used efficiently and that the potential for growth exists. In evaluating economic viability, stakeholders often conduct a Cost-Benefit Analysis to weigh the expected benefits against the costs involved. This analysis helps in making informed decisions about investments and resource allocation, ultimately contributing to the overall health of the economy.