What is meant by Economic planing
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Hi friend..
economic planning, the process by which key economic decisions are made or influenced by central governments. It contrasts with the laissez-faire approach that, in its purest form, eschews any attempt to guide the economy, relying instead on market forces to determine the speed, direction, and nature of economic evolution..
hope it helps you..
economic planning, the process by which key economic decisions are made or influenced by central governments. It contrasts with the laissez-faire approach that, in its purest form, eschews any attempt to guide the economy, relying instead on market forces to determine the speed, direction, and nature of economic evolution..
hope it helps you..
Answered by
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Hello frnd____
The basic purpose of economic life is the satisfaction of human desires which are basically unlimited. All economic activities of any modern society are directed to meet human needs with limited (rare) resources.
The limits of resources compel the society to like and allocate. Economic resources regarding the demands of their alternative uses are rare. Primary economic problems allocate rare resources to satisfy human desires, which bring maximum satisfaction.
______
Srk6
The basic purpose of economic life is the satisfaction of human desires which are basically unlimited. All economic activities of any modern society are directed to meet human needs with limited (rare) resources.
The limits of resources compel the society to like and allocate. Economic resources regarding the demands of their alternative uses are rare. Primary economic problems allocate rare resources to satisfy human desires, which bring maximum satisfaction.
______
Srk6
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