Economics · Economic Planning
What is a major potential advantage of economic planning?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It eliminates the need for international trade and economic cooperation.
- 2It always leads to optimal resource allocation without any inefficiencies.
- 3It ensures complete income equality among all citizens.
- 4It can guide economic activities toward long-term goals and address market failures.✓
Correct answer
It can guide economic activities toward long-term goals and address market failures.
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