Economics · Economic Planning
Economic planning is considered necessary in a developing economy mainly because:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Market forces always ensure equitable distribution
- 2Resources are abundant and freely available
- 3Government intervention is required to achieve social objectives✓
- 4The private sector is entirely incapable of production
Correct answer
Government intervention is required to achieve social objectives
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