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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.
Healthcare Reform is currently in the news almost every day. The current approach proposes a government sponsored health insurance “market” to help control costs and make healthcar
The prevention of major swings in economic activity can be handled most easily by the
a machine cost 18871.00 today. at the end of each year I own the machine & it gives me returns of 4,948.00 after paying repairs and maintenance. After 6 years, I expect to sell it
I wont final Exam
what is the formula for finding gross national product?
1. Consider a model economy with a production function Y = K 0.2 (EL) 0.8 , where K is capital stock, L is labor input, and Y is output. The savings rate (s), which is define
Financial Economies: These are benefits obtained by large firms as a result of contracting credit from financial institutions at lower interest rates than smaller firms. The
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Explain three major barriers to development experienced by developing countries. Well, the scope of possible answers here is, em, wide, to say the least. The issue is not to si
Facilitating Restructurings- rationale in era of globalisation: There has been some progress in the last few years in efforts to improve the framework for sovereign restructur
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