What does economically feasible mean?

Definition: The economic feasibility step of business development is that period during which a break-even financial model of the business venture is developed based on all costs associated with taking the product from idea to market and achieving sales sufficient to satisfy debt or investment requirements.

What is an economic use of water?

Economic characteristics of water. Water provides goods (e.g. drinking-water, irrigation water) and services (e.g. hydroelectricity generation, recreation and amenity) that are utilized by agriculture, industry and households.

Why is water considered as an economic good?

THE THEORY OF WATER AS AN ECONOMIC GOOD The idea of “water as an economic good” is simple. Like any other good, water has a value to users, who are willing to pay for it. Like any other good, consumers will use water so long as the benefits from use of an additional cubic meter exceed the costs so incurred.

How do you assess economic feasibility?

An evaluation of economic feasibility must include reliable estimates of the economic benefits and costs of the project. If the benefits generated by an M&I project exceed project costs, then the project is considered to be economically feasible.

What is the example of economically feasible?

Example sentences. economically feasible. It was partly thanks to this work that the building of Britain’s motorway network became economically feasible. Encouraging Japan to do more in areas that are both politically and economically feasible may result in real progress.

Why economic feasibility is so important?

Economic Feasibility. This assessment is designed to help the building owner determine the cost and benefits of the project; it’s basically a cost/benefit analysis. When you examine all these areas, you will be able to identify any potential constraints your commercial property stands to face.

Is money an economic resource?

Money is not capital as economists define capital because it is not a productive resource. Money merely facilitates trade, but it is not in itself a productive resource. Remember, goods and services are scarce because the factors of production used to produce them are scarce.

What are the three main sources of water?

3.1 Types of water source. In Study Session 1 you were introduced to the three main sources of water: groundwater, surface water and rainwater. In arid regions where seawater is accessible (such as in the Middle East), desalination (the removal of salts from water) is used to generate drinking water.

What is the value of an economic good?

Economic value is the value that person places on an economic good based on the benefit that they derive from the good. It is often estimated based on the person’s willingness to pay for the good, typically measured in units of currency.

What is economic feasibility example?

For example, “The foodservice operators must adopt technology as more than simply a cost of doing business. Management can assess economic feasibility by doing the cost-benefit analysis, as well as using financial techniques, such as time value of money or break-even point analysis.

What are the 3 parts of feasibility study?

Feasibility Report Template

• Executive summary.
• Description of product/service.
• Technology considerations.
• Product/service marketplace.
• Marketing strategy.
• Organization/staffing.
• Schedule.
• Financial projections.

What is an example of a feasibility study?

For example, an automobile prototype is a tool for the feasibility study, an experiment on rats to develop a new medicine is a procedure of feasibility analysis, checking the configuration and features before purchasing a laptop resembles feasibility tests.

What is the legal definition of domestic water use?

Domestic water use ” means, for the purposes of this chapter, use of water associated with human health and welfare requirements, including water used for drinking, bathing, sanitary purposes, cooking, laundering, irrigation of not over one-half acre of lawn or garden per dwelling, and other incidental household uses.

What are the economic benefits of universal access to water?

Universal access to basic water and sanitation would result in $18.5 billion in economic benefits each year from avoided deaths alone. Every $1 invested in water and sanitation provides a $4 economic return from lower health costs, more productivity and fewer premature deaths.

Which is an example of a domestic use?

Domestic use means those water uses common to a household, including washing, drinking, bathing, waste disposal, cooling and heating, domestic animals, and garden and landscape irrigation. Domestic Use does not include the filling of ponds, pits, pit-dams or reservoirs. Loading…

How does safe water at home help the economy?

Safe water at home empowers women and their families to explore their income-generating potential. Instead of walking to find water, they have time to earn money by doing things like sewing, farming, and teaching. It is with income from these activities they can break the cycle of poverty. Leneriza lives in the Philippines.