Economics Mixed Economy Questions
The role of economic planning in a mixed economy is to coordinate and regulate the allocation of resources, both in the public and private sectors. It involves setting goals, formulating policies, and implementing strategies to achieve economic growth, stability, and social welfare. Economic planning helps to balance the market forces of supply and demand with government intervention, ensuring that resources are allocated efficiently and equitably. It also aims to address market failures, promote sustainable development, and mitigate the negative impacts of economic fluctuations.