* 1. What is the objective of economic activity ?
Answers
The main aim of economic activities is to satisfy human needs. The needs to be satisfied may be present or future. When a person undertakes a job to earn money and buy necessities for his family then it will be satisfying present needs.
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Answer:
Economic planning is needed to create stable conditions of employment in less developed countries.
Efficient utilization of resources: The most essential function of economic planning is to ensure the best use of given resources within the country.
The basic objective of economic planning is that there is equal distribution of resources, the goals set are completed within specific period of time.
Increase the production and employment and also reduce the population growth are also the main objectives.
The economic activity (production, distribution, consumption) should outside the market mechanisms.
Economic planning is done for social and economic development.