Question

Economic Planning means a country's _______.

• A. economic development
• B. social development
• C. both (A) and (B)
• D. none of these

Answer 1

Answer: (C)

both (A) and (B)

Economic Planning means a country's both economic development and social development. The objective of economic planning is maximum social welfare. Economic planning is often regarded as a mechanism for proper allocation of resources in an efficient manner. Economic planning helps to achieve consistency among different economic objectives.