The need for development planning arises largely from the fact that

The need for development planning arises largely from the fact that

Answer Details

The need for development planning arises largely from the fact that productive resources are scarce relative to the demand for them. Development planning is the process of setting goals and strategies to achieve economic growth and development. Productive resources such as land, labor, and capital are limited, while the demand for goods and services is constantly increasing due to population growth and changing consumer preferences. Therefore, development planning is necessary to allocate resources efficiently and effectively, and to ensure that economic growth is sustainable and equitable. Without planning, there is a risk of resource misallocation, economic inefficiency, and social inequality.