explain the concept of viable and non viable industry
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Non-viable Industry :The industry for which demand curve and supply do not intersect each other at any positive quantity is called non-viable industry.A non-viable industry is one which will not produce the product in an economy. It may be because cost of the product is too high and the consumers are not willing to pay a price that will cover the cost.
Example, commercial aircrafts is a non-viable industry in India. In this case demand and supply curve will not intersect.
Viable Industry: In case of viable industry supply and demand curve must Intersect at same point.
Manufacturing sector: According to a study by global management consulting firm McKinsey, the manufacturing sector in India could grow six-fold to US$ 1 trillion, by 2025.
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