ECO448
Question: One of the principal objectives of planning in underdeveloped or less developed countries is to increase the rate of
Answer: economic development
Question: An as an organize set of relationships, that describes the functioning of an economic entity whether it concerns, the individual, house hold or firm, the local government system, the regional or national economies,or the world economy under * set of simplifying assumptions
Answer: economic model
Question: Planning is a series of mathematical equations which help in the drawing up of a plan for economic development
Answer: Model
Question: are tools for achieving something. Instrumentvariables are regarded as the policy measures that would be necessary to achieve the objectives
Answer: Instrument Variables
Question: Planning models have been increasingly used in less developed countries of which Nigeria is one, for the drawing up of plans for
Answer: economic development
Question: is a development plan, there should be a focus on what the planning authority is aiming to achieve within the given time frame of the plan
Answer: Objectives
Question: Planning is essential in whatever we do both at micro and level of human existence
Answer: macro
Question: A expresses the relationships among economic variables which explain and predict past and future events under a set of simplifying assumptions
Answer: model
Question: The following except one are the important elements of the development planning models
Answer: development planning
Question: consist of a series of equations each of which represents the association among certain variables
Answer: model
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