which of the following is not an objective of economic planning

Economics

WAEC 2015

A. need to direct economic development of the country towards the desired direction
B. desire to ensure a sustained cultural development of the country
C. desire to widen the gap between developing countries and the developed world
D. management of scarce resources in the face of unlimited wants of the citizens

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Correct Answer: Option C

Explanation

Economic planning consist of economic decisions, schemes formed to meet certain pre-determined economic objectives and a road map of directions to achieve specific goals within specific period of time.By the conscious decisions of Central and State Government, based on in-depth study of the existing and potential resources of a country through surveys and a careful study of the needs of the people the planning takes place.

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