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Why economic planning is important.
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[QUOTE="Kingsley, post: 216894, member: 30278"] Economic planning plays a major role in any country of the world as of today. Economics as we know is a social subject that gives us understanding of both the micro and macro economic aspect of a country's systems. The understanding of economics gives us the understanding on how to answer the following questions. What to produce, for whom to produce , how to produce and how to distribute that which has been produced. Economics helps us to utilize the scares resources that we have at our disposal. So as to get the possible best result from our resources. The micro aspect of economics deals with all that concerns the household. And while the macro aspect deals with issues bothering on the nation's national income, inflation, unemployment and the likes. Any country where the government is having a poor economic team it will reflect in the way and manner the people will be in the country. It will reflect in their standard of living. And their per capita income. Unfortunately some of the countries in west Africa are struggling with poor economic planning committee hence there don't seem to any form of progress in those countries including mine, as funds are been mismanaged. [/QUOTE]
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