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What is the main objective of economic planning in a country?
- a)Maximizing profits for businesses
- b)Promoting free-market competition
- c)Achieving balanced economic growth and development
- d)Eliminating taxation
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
What is the main objective of economic planning in a country?a)Maximiz...
Economic planning is designed to achieve balanced growth and development by allocating resources effectively and prioritizing sectors that need support and development.
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What is the main objective of economic planning in a country?a)Maximiz...
Objective of Economic Planning
Economic planning plays a crucial role in guiding a country's economic activities to achieve specific goals. The main objective of economic planning is to ensure balanced economic growth and development.
Key Points:
- Balanced Economic Growth:
Economic planning aims to promote growth across various sectors, ensuring that no particular area is neglected. This holistic approach helps in reducing regional disparities and fosters overall national development.
- Resource Allocation:
Efficient allocation of resources is a fundamental aspect of economic planning. It ensures that resources are utilized where they are most productive, leading to increased output and improved living standards.
- Addressing Economic Challenges:
Planning allows governments to identify and tackle economic issues such as unemployment, inflation, and poverty. By implementing targeted strategies, they can stabilize the economy and promote social welfare.
- Long-term Vision:
Economic planning provides a framework for long-term development goals, aligning short-term actions with long-term objectives. This helps in creating a sustainable economic environment.
- Social Equity:
Planning also focuses on enhancing social equity by addressing income disparities and ensuring that the benefits of economic growth are distributed fairly among the population.
Conclusion:
In summary, the main objective of economic planning is to achieve balanced economic growth and development. It encompasses a wide range of strategies aimed at improving the overall economic landscape of a country, ensuring that growth is inclusive and sustainable for the future.
Economic planning plays a crucial role in guiding a country's economic activities to achieve specific goals. The main objective of economic planning is to ensure balanced economic growth and development.
Key Points:
- Balanced Economic Growth:
Economic planning aims to promote growth across various sectors, ensuring that no particular area is neglected. This holistic approach helps in reducing regional disparities and fosters overall national development.
- Resource Allocation:
Efficient allocation of resources is a fundamental aspect of economic planning. It ensures that resources are utilized where they are most productive, leading to increased output and improved living standards.
- Addressing Economic Challenges:
Planning allows governments to identify and tackle economic issues such as unemployment, inflation, and poverty. By implementing targeted strategies, they can stabilize the economy and promote social welfare.
- Long-term Vision:
Economic planning provides a framework for long-term development goals, aligning short-term actions with long-term objectives. This helps in creating a sustainable economic environment.
- Social Equity:
Planning also focuses on enhancing social equity by addressing income disparities and ensuring that the benefits of economic growth are distributed fairly among the population.
Conclusion:
In summary, the main objective of economic planning is to achieve balanced economic growth and development. It encompasses a wide range of strategies aimed at improving the overall economic landscape of a country, ensuring that growth is inclusive and sustainable for the future.
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What is the main objective of economic planning in a country?a)Maximizing profits for businessesb)Promoting free-market competitionc)Achieving balanced economic growth and developmentd)Eliminating taxationCorrect answer is option 'C'. Can you explain this answer?
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What is the main objective of economic planning in a country?a)Maximizing profits for businessesb)Promoting free-market competitionc)Achieving balanced economic growth and developmentd)Eliminating taxationCorrect answer is option 'C'. Can you explain this answer? for SSC MTS / SSC GD 2025 is part of SSC MTS / SSC GD preparation. The Question and answers have been prepared according to the SSC MTS / SSC GD exam syllabus. Information about What is the main objective of economic planning in a country?a)Maximizing profits for businessesb)Promoting free-market competitionc)Achieving balanced economic growth and developmentd)Eliminating taxationCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for SSC MTS / SSC GD 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the main objective of economic planning in a country?a)Maximizing profits for businessesb)Promoting free-market competitionc)Achieving balanced economic growth and developmentd)Eliminating taxationCorrect answer is option 'C'. Can you explain this answer?.
What is the main objective of economic planning in a country?a)Maximizing profits for businessesb)Promoting free-market competitionc)Achieving balanced economic growth and developmentd)Eliminating taxationCorrect answer is option 'C'. Can you explain this answer? for SSC MTS / SSC GD 2025 is part of SSC MTS / SSC GD preparation. The Question and answers have been prepared according to the SSC MTS / SSC GD exam syllabus. Information about What is the main objective of economic planning in a country?a)Maximizing profits for businessesb)Promoting free-market competitionc)Achieving balanced economic growth and developmentd)Eliminating taxationCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for SSC MTS / SSC GD 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the main objective of economic planning in a country?a)Maximizing profits for businessesb)Promoting free-market competitionc)Achieving balanced economic growth and developmentd)Eliminating taxationCorrect answer is option 'C'. Can you explain this answer?.
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