Is it possible to survive with just your street clothes and a knife. In such a situation what are the things to be considered? What is the chance of survival?

Yeah of course its possible but it entirely depends on your smartness. If you can manage somehow, you can surely survive.

It is possible, but unlikely if you don't go out and practice it. This is why I don't go hiking or hunting without my BOB with me. I also always have it in my vehicle when traveling.

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Hope for the best, but plan for the worst.

NRA Certified Instructor for Basic Handgun and Personal protection in the Home.
V.F.W. Life Member
NRA Member
U.S. Army Veteran

Certainly it would be easier to survive, or at least more efficient, if you had some additional tools. But if that's all you have with you then you better have some valuable tools stored in your head. Ideally, a person will have tools as well as knowledge and experience to get them through an emergency situation. However if I could only possess one, then I would forsake the physical tools in favor of the knowledge and mental skills, because that will lead to creativity and improvisation. Tools are no good if you don't know how to use them or be creative with them.

In this case it would be possible to survive only for a short time. On the long term you have to secure your food sources or store more food and water. Then next thing is figuring out a safe exit from there to any secure locations.