Reasons for development planning, Microeconomics

Reasons for development planning:

To maximize the utilization of economic resources: The resources of any nation are not always enough for her use. In this wise, resources must be allocated in such a way that they achieve maximum utilization of them.It is through the proper allocation of their resources that nations can accelerate their pace of economic development.

To correct the imperfection of the market system – The market system in reality is not perfect and therefore allocation of resources which occur under perfect competition model does not happen. There is therefore the need to interfere to ensure efficient allocation of resources

To ensure balanced growth: planning may be used to ensure balanced growth for all sectors of the economy.By this there will be uniform growth and provision of complementary services and intra sectoral linkages.

Posted Date: 1/3/2013 1:07:51 AM | Location : United States







Related Discussions:- Reasons for development planning, Assignment Help, Ask Question on Reasons for development planning, Get Answer, Expert's Help, Reasons for development planning Discussions

Write discussion on Reasons for development planning
Your posts are moderated
Related Questions
More details on mixed bundling


different types of production funtion and curve given by different economist

what is consumer''s choice involving risk.preference toward risk.

Question: (a) Explain the factors that contributed to the adoption of structural adjustment programme by a majority of Least Developed Countries in the 1980s? (b) Describe t

After I figure a table what do I do with it? I have no book and no study materials to answer my question

Joe won $365,000 a year for life in the state lottery. Use a labor-leisure choice analysis to answer the following: a. Show how Joe’s lottery winnings affect the position of his b

DEMOGRAPHIC PROFILE: A demographic profile of India can be prepared out of the data collected by the office of the Registrar General of India who is the responsible authority

How have falling commodity prices affected many developing countries? Definition of commodities; raw material like copper, iron and bauxite; and agricultural goods like rice an

How to start Economics Introduction assignment?