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Socialist Economic Development

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Questions and Answers

What is the focus of Socialist societies in organizing economic development?

Raising the standard of living for citizens (correct)

Maximizing economic growth

Promoting individual entrepreneurship

Minimizing resource allocation

What is the primary aim of comprehensive economic planning?

To reduce unemployment

To maximize profit

To raise the population's standard of living (correct)

To increase economic growth

What is essential for achieving targeted results in economic development?

Controlling existing resources and social conditions (correct)

Increasing financial resources

Implementing new technologies

Reducing labor costs

What is included in a comprehensive economic and social plan?

Predetermined goals and specific actions Signup and view all the answers

What is the key aspect of resource allocation in economic planning?

Using resources optimally Signup and view all the answers

What is a characteristic of a comprehensive economic plan?

It includes all aspects of economic and social activity Signup and view all the answers

What is the primary purpose of economic planning?

To allocate resources for social ends Signup and view all the answers

According to one definition, what does economic planning entail?

Directing all society's resources to achieve social and economic goals Signup and view all the answers

What is a key aspect of planning for economic development?

Coherence and coordination between sectors of the economy Signup and view all the answers

What is a goal of economic planning?

Minimizing social costs Signup and view all the answers

What is involved in the process of economic planning?

Defining specific goals and developing methods to achieve them Signup and view all the answers

What is the scope of economic planning?

Encompassing all fields of economic and social development Signup and view all the answers

What does Herman Levy define as the goal of economic planning?

To secure a better balance between demand and supply Signup and view all the answers

According to Lewis Lorwin, what is the primary objective of a planned economy?

To achieve maximum satisfaction of the people's needs Signup and view all the answers

What is Barbara Wooton's definition of economic planning focused on?

Controlling the market mechanism Signup and view all the answers

What is Dalton's definition of economic planning concerned with?

The deliberate direction of economic activity Signup and view all the answers

What is a common theme among the definitions of economic planning by various economists?

Directing economic activity towards chosen ends Signup and view all the answers

Why is it difficult to provide a universally acceptable definition of planning?

Because economists disagree about the concept of planning Signup and view all the answers