Which of the following is a rationale for development planning?

Question

Quizplus · Accepted Answer

Development planning is often seen as necessary in situations where the market fails to allocate resources efficiently. This can include situations where there are externalities, information asymmetries, or public goods that are not being adequately provided by the market. Government failure and failure of consumers to understand their preferences may also be reasons for development planning, but they are not as commonly cited as market failure. Therefore, B is the best choice.

Which of the Following Is a Rationale for Development Planning