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 Form 4 Business Studies: Economic development and planning online video lessons

Problems encountered at the planning stage for development:

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Answer Text:
Problems encountered at the planning stage for development:
i) Lack of accurate or detailed data for planning. This may lead to in appropriate plan being developed, as it entirely depends on the quality and availability of the data
ii) Existence of large subsistence sector, which make the planning unrealistic.
iii) Lack of qualified personnel to assist in planning. This may make the country to rely on foreign experts who do not fully understand the country
iv) Problem of the private sector which will always require incentives for them to follow the plan.
v) Transfer of inappropriate development plan. As some planners may simply borrow a plan that they feel may have worked for a given country, yet the condition in those countries may not be the same.


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