Define the term Economic viability and non-viability of an industry.

1.	Define the term Economic viability and non-viability of an industry.
Answer» Economic viability of an industry refers to the situation when demand and supply curves of the industry meet at some positive level of output. Non-viability of an industry refers to a situation when demand curve and supply curve do not intersect each other at any positive quantity. In such a situation, supply curve lies above the demand curve.

Answer»

Economic viability of an industry refers to the situation when demand and supply curves of the industry meet at some positive level of output.

Non-viability of an industry refers to a situation when demand curve and supply curve do not intersect each other at any positive quantity. In such a situation, supply curve lies above the demand curve.

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Define the term Economic viability and non-viability of an industry.

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