Question

Q1) It is a conscious design to shape the socio-economic processes in
order to achieve an objective ​

Answer 1

Answer:

It is a conscious design to shape the socio-economic processes in order to achieve an objective. A. Economic infrastructure. B. Economic development. C.Higher levels of growth and social justice are the two main objectives of India's economic planning. When these two objectives are clubbed together, it is called development with social justice. ... Hence, growth with equity is a rational and desirable objective of planning. It is a conscious design to shape the socio-economic processes in

order to achieve an objective.

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Answer 2

Answer :

A planned economy is a system where the government directs economic activity to achieve specific goals, in contrast to a market economy where decisions are decentralized.

Explanation :

The statement refers to the concept of "planned economy" which is a conscious design to shape socio-economic processes in order to achieve a specific objective or set of objectives. This involves a centralized system of decision-making where the government or a central authority plays a significant role in directing economic activity, including the allocation of resources and the setting of prices.

In a planned economy, the government sets targets for economic growth, employment, and inflation, and uses various policy tools such as fiscal and monetary policy to achieve these objectives. This approach is different from a market economy, where economic decisions are decentralized and made by individuals and firms responding to market signals of supply and demand.

Planned economies have been implemented in various forms throughout history, with varying degrees of success. Proponents argue that a planned economy can provide greater economic stability and social equality, while critics argue that it can lead to inefficiencies, lack of innovation, and a loss of individual freedom.

In conclusion,  a planned economy is a deliberate attempt to shape economic activity towards a specific goal or set of goals, using centralized decision-making and government intervention. Its effectiveness is debated, with proponents and critics highlighting different advantages and drawbacks.

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