Elements of Economic Planning - SS3 Economics Past Questions and Answers - page 1

1

What is the purpose of economic planning?

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A

To guide economic growth and development

B

To limit government intervention in the economy

C

To maximize profits for private sector organizations

D

To promote social inequality

 

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2

What is resource allocation in economic planning?

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A

Setting clear and specific economic targets

B

Identifying the resources available to achieve the goals and objectives

 

C

Designing and implementing policies and strategies

D

Tracking progress towards the goals and objectives

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3

What is the purpose of monitoring and evaluation in economic planning?

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A

To set clear and specific economic targets

B

To identify the resources available to achieve the goals and objectives

 

C

To track progress towards the goals and objectives

D

To promote social inequality

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4

Who are the stakeholders involved in economic planning?

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A

Only government agencies

B

Only private-sector organization

C

Only civil society groups

 

D

Government agencies, private sector organizations, civil society groups, and international organizations

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5

What is the benefit of economic planning?

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A

Promoting social inequality

B

Limiting government intervention in the economy

C

Ensuring sustainable and inclusive economic growth and development

D

Maximizing profits for private sector organizations

 

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6

What is the role of policies and strategies in economic planning?

 

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7

How does economic planning involve coordination and collaboration?

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