{"id":4008,"date":"2023-10-06T08:49:31","date_gmt":"2023-10-06T08:49:31","guid":{"rendered":"http:\/\/localhost\/ecole9ja\/?p=4008"},"modified":"2023-10-06T08:52:47","modified_gmt":"2023-10-06T08:52:47","slug":"week-2-ss3-second-term-economics-notes","status":"publish","type":"post","link":"https:\/\/ecolebooks.com\/nigeria\/posts\/week-2-ss3-second-term-economics-notes\/","title":{"rendered":"Week 2 &#8211; SS3 Second Term Economics Notes"},"content":{"rendered":"<p>\u00a0<strong>WEEK TWO<br \/>\n<\/strong><strong>ECONOMIC DEVELOPMENT PLANING<br \/>\n<\/strong><strong>CONTENT<br \/>\n<\/strong><\/p>\n<ul>\n<li>Meaning and reasons for planning\n<\/li>\n<li>Types of plan.\n<\/li>\n<li>Problems of Planning\n<\/li>\n<\/ul>\n<p>\u00a0As discussed in Week 2 and 3 respectively that economic development is an essential feature of any country. In achieving this, there is need to influence some principal economic variables such as production, distribution, inflation, import and export in order to achieve a predetermined goal and objectives.  Then Economic planning can be simply defined as a conscious governmental effort to influence some principal economic variables such as: production, distribution, inflation import and export in order to achieve a predetermined goal and objectives.<\/p>\n<p>\u00a0<strong>TYPES OF PLAN<br \/>\n<\/strong>The various types of economic planning are:<br \/>\n1.\u00a0\u00a0\u00a0\u00a0Financial economic planning.<br \/>\n2.\u00a0\u00a0\u00a0\u00a0Strategic planning.<br \/>\n3.\u00a0\u00a0\u00a0\u00a0Comprehensive economic planning.<br \/>\n4.\u00a0\u00a0\u00a0\u00a0Partial economic planning.<br \/>\n5.\u00a0\u00a0\u00a0\u00a0Controlled economic planning.<\/p>\n<p>\u00a0A.\u00a0\u00a0\u00a0\u00a0Financial Economic Planning \u2013 This plan deals with how National Income is distributed to various sectors of the economy.<br \/>\nB.\u00a0\u00a0\u00a0\u00a0Strategic Planning \u2013 This is a plan designed to address a specific objective in the economy.<br \/>\nC.\u00a0\u00a0\u00a0\u00a0Comprehensive economic planning \u2013 This type of plan covers all major aspects of the national economy.<br \/>\nD.\u00a0\u00a0\u00a0\u00a0Partial Economic Planning \u2013 This is a plan directed or targeted at specific segment of the national economy e.g. plans to boost agricultural production.<br \/>\nE.\u00a0\u00a0\u00a0\u00a0Controlled Economic Planning \u2013 This plan is common in a socialist economic system.  This is a plan in which government formulates and executes plans for the economy.  This is also known as authoritarian planning <\/p>\n<p>\u00a0<strong>EVALUATION<br \/>\n<\/strong>1. \u00a0\u00a0\u00a0\u00a0What is Economic plan?<br \/>\n2. \u00a0\u00a0\u00a0\u00a0List and explain four types of Economic planning.<\/p>\n<p>\u00a0<strong>PROBLEMS OF PLANNING<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0Frequent change in government i.e. political instability.<br \/>\n2.\u00a0\u00a0\u00a0\u00a0Insufficient capital to execute the project itemized in the plan.<br \/>\n3.\u00a0\u00a0\u00a0\u00a0Misplacement of priorities \u2013 Resources are sometimes diverted to white elephant projects i.e. unproductive projects.<br \/>\n4.\u00a0\u00a0\u00a0\u00a0Inaccurate statistical data and information.<br \/>\n5.\u00a0\u00a0\u00a0\u00a0Lack of skilled personnel<br \/>\n6.\u00a0\u00a0\u00a0\u00a0Reliance on foreign aid.<br \/>\n7.\u00a0\u00a0\u00a0\u00a0Rapid population growth<br \/>\n8.\u00a0\u00a0\u00a0\u00a0Corruption and embezzlement.<br \/>\n10.\u00a0\u00a0\u00a0\u00a0Exchange rate volatility i.e. fluctuation in exchange rate.<\/p>\n<p>\u00a0<strong>EVALUATION<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0Give five reasons for planning.<br \/>\n2.\u00a0\u00a0\u00a0\u00a0What are the problems facing planning in Nigeria.<\/p>\n<p>\u00a0<strong>READING ASSIGNMENT<br \/>\n<\/strong><\/p>\n<ol>\n<li>Amplified and Simplified Economics for SSS by Femi Longe page 454-458.\n<\/li>\n<li>Essential Economics for SSS by C E Ande page 403 \u2013 405.\n<\/li>\n<\/ol>\n<p>\u00a0<strong>WEEKEND ASSIGNMENT<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0Economic development is reflected in _____A. scarcity of capital B. increase in the price level C. decline in agricultural productiveD. Increase in productive capacity<br \/>\n2.\u00a0\u00a0\u00a0\u00a0Development plans in Nigeria have deviated from their targets due to ____ A. Lack of power\u00a0\u00a0\u00a0\u00a0B. political instability C.High population growth rate D. brain drain in the country<br \/>\n3.\u00a0\u00a0\u00a0\u00a0The level of economic development is low in Nigeria because _____ A. planning has no practical relevance B. of the pattern of consumers spending C. the country is too large     D. of ineffective plan implementation<br \/>\n4.\u00a0\u00a0\u00a0\u00a0Development of planning which takes an overall view of the economy is described as ____ A. Aggregate \/comprehensive economic planning    B. Disaggregated economic planning   C. Sectorial economic planning     D. system economic planning<br \/>\n5.\u00a0\u00a0\u00a0\u00a0The type of economic planning that deals with distribution of National Income to various sectors is known as _____ A. Financial planning B. sectorial planning C. strategic planning D. partial economic planning <\/p>\n<p>\u00a0<strong>THEORY<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0What are the problems of planning in Nigeria?<br \/>\n2.\u00a0\u00a0\u00a0\u00a0Outline any five reasons for planning.<\/p>\n<p>\u00a0<strong>GENERAL EVALUATION<br \/>\n<\/strong><\/p>\n<ol>\n<li>1993 SSCE QUESTION OBJECTIVE AND THEORY\n<\/li>\n<li>1994 SSCE QUESTION OBJECTIVE AND THEORY\n<\/li>\n<li>1995 SSCE QUESTION OBJECTIVE AND THEORY\n<\/li>\n<li>1996 SSCE QUESTION OBJECTIVE AND THEORY\n<\/li>\n<li>1997 SSCE QUESTION OBJECTIVE AND THOERY\n<\/li>\n<\/ol>\n<p>\t\t\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0WEEK TWO ECONOMIC DEVELOPMENT PLANING CONTENT Meaning and reasons for planning Types of plan. Problems&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,311],"tags":[],"class_list":["post-4008","post","type-post","status-publish","format-standard","hentry","category-posts","category-second-term-ss3-economics"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/4008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/comments?post=4008"}],"version-history":[{"count":1,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/4008\/revisions"}],"predecessor-version":[{"id":4009,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/4008\/revisions\/4009"}],"wp:attachment":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/media?parent=4008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/categories?post=4008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/tags?post=4008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}