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Questions and Answers
What is the primary purpose of material balances in economic planning?
What is the primary purpose of material balances in economic planning?
- To develop input-output planning
- To balance supply of inputs with targeted outputs (correct)
- To formulate investment plans
- To balance monetary accounts
Which method is contrasted with the method of material balances?
Which method is contrasted with the method of material balances?
- Input-output planning (correct)
- Resource allocation planning
- Monetary accounting
- Supply-demand planning
What was the main function of Gosplan in the Soviet Union?
What was the main function of Gosplan in the Soviet Union?
- To formulate investment plans
- To implement material balance planning (correct)
- To balance monetary accounts
- To develop input-output planning
How does material balance planning approach economic planning?
How does material balance planning approach economic planning?
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What was a key priority of the material balance planning system in the Soviet Union?
What was a key priority of the material balance planning system in the Soviet Union?
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Study Notes
Purpose of Material Balances
- Material balances are aimed at ensuring an efficient allocation of resources within an economy.
- They help in measuring the inputs and outputs of materials, facilitating better planning and forecasting.
Contrasted Method
- The method of material balances is contrasted with the quantitative approach that focuses solely on financial aspects and monetary values rather than physical quantities of materials.
Function of Gosplan
- Gosplan served as the central economic planning agency in the Soviet Union.
- Its main function included formulating national economic plans and coordinating production across different sectors.
Economic Planning Approach
- Material balance planning emphasizes the physical requirements of materials rather than just financial transactions.
- It ensures that the demand for various materials meets the planned supply, aiming for sustainable development.
Key Priority in the Soviet Union
- A fundamental priority of the material balance planning system was the achievement of full production capacity across all sectors.
- This system aimed to eliminate shortages and surpluses by precisely matching input resources with production goals.
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