Question

what is meant buy economics planning?

Answer 1

Economic planning is planning done,generally by state,to achieve pre determined goals.It is a very important part in working of an economy. Every economy has some constraints,either financial,natural resources,etc. How it can bring out best results within the given constraints,is the subject matter of economic planning. Moreover,planning sets up goals and aims for the country which is one of the initial steps for a country to start its growth story.