Question on: WAEC Economics - 2015
which of the following is not an objective of economic planning
A
need to direct economic development of the country towards the desired direction
B
desire to ensure a sustained cultural development of the country
C
desire to widen the gap between developing countries and the developed world
D
management of scarce resources in the face of unlimited wants of the citizens
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Correct Option: C
Economic planning consist of economic decisions, schemes formed to meet certain pre-determined economic objectives and a road map of directions to achieve specific goals within specific period of time.By the conscious decisions of Central and State Government, based on in-depth study of the existing and potential resources of a country through surveys and a careful study of the needs of the people the planning takes place.
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