Question

what is the meant by economic planning ​

Answer 1

Answer:

Economic planning is a resource allocation system based on a computational procedure for solving a constrained maximization problem with an iterative process for obtaining its solution. Planning is a mechanism for the allocation of resources between and within organizations contrasted with the market mechanism.

Explanation:

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Answer 2

Answer:

Economic planning is a mechanism for the allocation of resources between and within organizations which is held in contrast to the market mechanism.