NECO 2004 Economics · Question 15

A development planning which takes a long range view of the economy and covers a period of 10-20 years is regarded as

Options

  1. A.comprehensive planning
  2. B.indicative planning
  3. C.perspective planning
  4. D.regional planning
  5. E.sectors planning

Answer: C. perspective planning

Explanation written with AI and checked against the answer key

Step 1: Analyze the question The question asks for the type of development planning that takes a long-range view of the economy, covering about 10-20 years.

Step 2: Explain the concepts Development plans are classified mainly by time span and scope:

  • Short-term (annual) plan: covers 1 year.
  • Medium-term plan (rolling plan): covers about 3-5 years. Nigeria's early National Development Plans were of this type.
  • Perspective plan: covers a long period, usually 10-20 years or more. It sets out broad long-term goals and the general direction of the economy. Medium-term and short-term plans are then drawn up to achieve those goals.

Other options explained:

  • Comprehensive planning: covers all sectors of the economy, regardless of time span.
  • Indicative planning: the government gives guidelines and targets, but private firms are not compelled to follow them (as in France).
  • Regional planning: focuses on the development of a particular region or area.
  • Sectoral planning: focuses on specific sectors such as agriculture, education or health.

Step 3: Match to the question The key phrase is "long range view... 10-20 years". This describes a perspective plan, so the answer is C.

Tip: Think of "perspective" as "looking far ahead", like a long view down the road. Remember the time spans: short = 1 year, medium = 3-5 years, perspective = 10-20 years.

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