Question

Choose the correct answer:
a) Economic Planning is not a new thought but it was present in human mind in some or other form
b) About 2410 years before, Plato used this system.
Of these :

• A. Both (a) and (b) are true
• B. (a) is true, but (b) is false
• C. (a) is false, but (b) is true
• D. Both (a) and (b) are false

Answer 1

The correct option is A Both (a) and (b) are true

Economic planning is a very old thought which existed in the ancient times when kings or leaders started planning their resources for the welfare of their kingdoms.

Plato prepared the ground for his famous plan of government for the Kings. He analysed the economic effects of war such as the spending or losses which were incurred by Kings in wars.