Which of the Following Is a Rationale for Development Planning

question 28

Multiple Choice

Which of the following is a rationale for development planning?

• A)Government failure
• B)Market failure
• C)Failure of consumers to understand their preferences
• D) All of the above are rationales for development planning.
• E) None of the above are rationales for development planning.

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Definitions:

Personal Benefits

The advantages or gains that an individual receives from making certain choices or engaging in specific activities.

Rational-Ignorance Effect

A phenomenon where individuals decide not to become informed about a matter because the perceived cost of acquiring the information is greater than the expected benefit.

Incentive

A motivation or reward offered to encourage specific actions or behaviors, often used in economics to influence decision-making and improve efficiency.

Political Choices

Decisions made within the political spectrum that reflect the preferences and ideologies of individuals, groups, or governments.