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TeachMeFinance.com - explain feasibility study feasibility study -- Likelihood study. A way to determine if a business idea is capable of being achieved. (Asks the question, "Can it work and produce the level of profit necessary?") another definition... feasibility study -- a detailed investigation and analysis of a proposed development project to determine whether it is viable technically and economically. Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.