why did planning is required in economics
Answers
Answered by
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.
Answered by
0
Explanation:
In case of external economies, role of public sector along with planning is essential. ADVERTISEMENTS: Thus, the overall gains are maximized by making proper plan adjustments. Thus a specified investment can be best utilized taking a macro-economic view to have appropriate social as well as private gains.
Similar questions