Prompt Title: Econ. feasibility vs cost-effect.

Economic feasibility and cost effectiveness are both important concepts in the field of business and finance, but they refer to different aspects of a project or investment.

Economic feasibility refers to the ability of a project or investment to generate a positive return on investment (ROI) and to be financially viable in the long term. In other words, economic feasibility looks at whether the benefits of the project or investment outweigh the costs, taking into account factors such as market demand, competition, regulatory environment, and other economic and financial factors.

Cost effectiveness, on the other hand, refers to the ability of a project or investment to achieve its goals or objectives at a reasonable cost. This means that cost effectiveness looks at whether the benefits of the project or investment justify the costs incurred, regardless of whether the project or investment is financially viable in the long term.

In other words, economic feasibility is concerned with the overall financial viability of a project or investment, while cost effectiveness is concerned with the efficiency of the project or investment in achieving its goals. A project or investment can be economically feasible but not cost effective, or vice versa.

Ultimately, both economic feasibility and cost effectiveness are important considerations in any business or investment decision, and both should be carefully evaluated before making any major financial commitments.