Reasons for development planning, Microeconomics

Assignment Help:

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.


Related Discussions:- Reasons for development planning

Economics Question about Financial Crisis, Hello there! I am currently doin...

Hello there! I am currently doing an MBA course about the financial crisis which is quite challenging. Today we were given a question about the topic: Long term capital management

Elasticity, You estimate that the price elasticity of demand for one-acre p...

You estimate that the price elasticity of demand for one-acre plots in Lusaka is -1.5 and that income elasticity of demand is 5. Land owners intend to increase the price of a one-a

Explain the factors influencing the pes, Using commodities as an example, e...

Using commodities as an example, explain the factors influencing the PES for such goods. The basic determinants of PES are time span included and the availability of producer s

Shifts in supply and demand, Shifts in Supply and Demand When supply an...

Shifts in Supply and Demand When supply and demand vary at the same time, the impact on the equilibrium price and quantity is known by: 1. The shape of the supply and dema

Differentiate between nominal and real exchange rate, Differentiate between...

Differentiate between nominal and real exchange rate.  Nominal exchange rate is the rate which actually prevails in the foreign swap market. The real exchange rate is the rate

Money market, Money market: The money market is a market of short-term...

Money market: The money market is a market of short-term loans. It consists of financial institutions having surplus fund to lend on short-term basis, and those wishing to bor

Marshalian demand, determination of optimal solution mathematical presentat...

determination of optimal solution mathematical presentation

Consumer behaviour, Maurice has the following utility function: U (X; Y ) =...

Maurice has the following utility function: U (X; Y ) = 20X + 80Y ?? X2 ?? 2Y 2 where X is his consumption of CDs, with a price of $1, and Y is his consumption of movie videos, wit

Cost function, Costs: If raw materials, machines and other things require...

Costs: If raw materials, machines and other things required for production could be made available freely then the study of the theory of the production and indeed, the study of

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd