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Planning is an important aspect of economic development. Explain five reasons why a country should carry out development planning.

      

Planning is an important aspect of economic development. Explain five reasons why a country should carry out development planning.

  

Answers


Martin
- Appropriate resources allocation- putting the resources in the most productive way/ not left idle.

- Stimulates of effort- it enable the government to stimulate the effort of citizens in the desire way.

- Support foreign aid bargain- enable a country to solicit for foreign aid/ donation/grants.

- Project evaluation – it makes it possible to evaluate the plan at various stages of implementation.

- Long term decision making – provides a long term view for making decisions in various sector of the economy.

- Avoiding duplication – different industries are located in different parts of the country.

- Promoting balance in regional development – it help in distributing industries in various parts of the country.

- Help in raising the standard of living – the gov’t looks into lives of various groups in the country.
marto answered the question on November 7, 2019 at 10:40


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