Elements of Economic Planning - SS3 Economics Past Questions and Answers - page 1
What is the purpose of economic planning?
To guide economic growth and development
To limit government intervention in the economy
To maximize profits for private sector organizations
To promote social inequality
What is resource allocation in economic planning?
Setting clear and specific economic targets
Identifying the resources available to achieve the goals and objectives
Designing and implementing policies and strategies
Tracking progress towards the goals and objectives
What is the purpose of monitoring and evaluation in economic planning?
To set clear and specific economic targets
To identify the resources available to achieve the goals and objectives
To track progress towards the goals and objectives
To promote social inequality
Who are the stakeholders involved in economic planning?
Only government agencies
Only private-sector organization
Only civil society groups
Government agencies, private sector organizations, civil society groups, and international organizations
What is the benefit of economic planning?
Promoting social inequality
Limiting government intervention in the economy
Ensuring sustainable and inclusive economic growth and development
Maximizing profits for private sector organizations
What is the role of policies and strategies in economic planning?
The role of policies and strategies in economic planning is to design and implement specific actions that will help achieve the goals and objectives of the economic plan. This may include policies to promote investment, encourage economic diversification, improve infrastructure, and support human capital development.
How does economic planning involve coordination and collaboration?
Economic planning involves coordination and collaboration between different stakeholders, including government agencies, private sector organizations, civil society groups, and international organizations.
This helps to ensure that the economic plan is aligned with the needs and priorities of all stakeholders and that it is implemented in a coordinated and effective manner. Collaboration can also help to leverage resources and expertise from different sectors to achieve the goals and objectives of the economic plan.