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

1

What is the purpose of economic planning?

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

 

CORRECT OPTION: a
2

What is resource allocation in economic planning?

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

CORRECT OPTION: b
3

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

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

CORRECT OPTION: c
4

Who are the stakeholders involved in economic planning?

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

CORRECT OPTION: d
5

What is the benefit of economic planning?

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

 

CORRECT OPTION: c
6

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.

7

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.

 

Pages: