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A planning budget is prepared before the period begins and is valid for only the planned level of activity true or false?
True.
Explain why both short-term and long-term planning are important?
short term is financial asset used to run business at the market level whereas longterm is to invest to get maximum profit.
Why is the long run aggregate supply LRAS curve vertical?
The Long-Run Aggregate Supply Curve is vertical at full-employment GDP with respect to the price level. In the long-run the quantity of output supplied depends on the economy's resource endowment, technology, and its governing institutions. The price level does not affect these variables in the long-run.
How does education affect economy?
Education directly affects the level of human capital (skill and knowledge we acquire), which is an input in economic production. Human capital increases economic growth by decreasing the costs of production and therefore increasing cost efficiency.
Economic Planning role in the Process of economic development?
Economic planningrefers to any directing or planning of economic activity outside the mechanisms of the market. Planning is an economic mechanism for resource allocation and decision-making held in contrast with the market mechanism. Most economies aremixed economies, incorporating elements of market mechanisms and planning for distributing inputs and outputs.[1] The level of centralization of decision-making ultimately depends on the type of planning mechanism employed; as such planning may be based on either centralized or decentralized decision-making.[2]Economic planning can apply to production, investment, distribution or all three of these functions. Planning may take the form of directive planning or indicative planning. An economy primarily based on central planning is a planned economy; in a planned economy the allocation of resources is determined by a comprehensive plan of production which specifies output requirements.[3]Objectives of Economic PlanningPlanning is adopted only in Socialistic and Communist countries and also in Mixed Economy1. Planning decides in which direction the Country should go.2. How much resources should be allotted to each sectors3. How much to be produced for the present and future periods.4. Planning helps the country to achieve what it can achieve in decades if it is left to natural transformation.5. Planning helps to use the maximum utility of the scarce resources6. Planning is headed by central committee and it decides the periods to be adopted for planning7. Even in capital countries where such strict formalities is not adopted they still decide plan ahead for the country1. Increase in the Rate of Economic DevelopmentOne of the most important objectives of Economic Planning is to increase the rate of economic development. Capital formation should be carried out. Infrastructure facilities should be extended and social overhead such as education, technical training and health facilities should be increased. Planning in Pakistan should be done keeping in mind that country is populous and there are too many people looking for jobs, hence labor intensive projects should be given priority, which will absorb labor force and employment opportunities will increase. Increase in employment will increase national income and per capital income. Standard of living of people will raise and rate of domestic savings will increase.2. Diversification of EconomyAll sectors of economy should be given proper importance. No sector of economy should be neglected. Pakistan is an agrarian country, the development of industry of Pakistan depends upon agriculture, therefore more emphasis should be given to agriculture. Since population is too much and it is further increasing at a fast rate, therefore production of food grains should be increased.3. Price StabilityIncrease in price level hits the poor and fixed income people very much, whereas decrease in price reduces profit margins of the businessmen, which causes reduction in investment. One economic planning is to maintain the price stability. Through planning equal distribution of national wealth be made. The society should not be divided between "Haves and Have-nots"4. Higher Standard of LivingEconomic Planning should ensure that good education; technical training and better medical facilities are available to all the people of the country. Every one should be provided a reasonable accommodation. Thus policy should standard of living of the masses.5. Improving Balance of PaymentsAll out efforts should be done under planning that balance of payments continues to improve. Export oriented and import substitutions industries should be given importance. Luxurious goods should be banned and small and agro-based industries should be given concessions and facilities. Imports should be reduced and export increased, in order to improve foreign exchange earnings. Dependence on foreign aid and grants should be curtailed.Read more
Different levels of Human resource planning?
Human Resource Planning may be reagrded as the ongoing systematic process planning to acheive the optimum use of an orgnization's most valuable asset.It ensures the best fit between employees and jobs, while avoiding manpower shortages or surpluses.The process of Human Resource Planning is carried on various levels for the purpose of its own by various institutions. There are several levels of human resource planning in an industrial enterprises including:-National Level-Sectoral Level-Industry Level-Unit level-Departmental Level-Job level
The present state of recession in IT industry as a human resource manager how are you ging to undertake human resource planning at macro level to tide over the crisis?
The Present State of Recession in It Industry - as Human Resource Manager How Are You Going to Undertake Human Resource Planning at Macro Level to Tide over This Crisis?
As Human resource manager how are you going to undertake Human resource Planning at Macro Level to tide over this crisis?
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Define career planning in detail from human resource management?
Career planning generally outlines the process that allows an employee to move from one stage to another. In Human Resource management it involves assisting employees who may be groomed to higher level positions within the organization based on their performance.
What steps have been taken at international level to promote resource planning?
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What would someone do if they need to include resource capacity planning?
There are several things one needs to do to include resource capacity planning. One would need to do the following: determine service level requirements, analyze current capacity and plan for the future.
What is the importance of human resource planning at the national level and at the organizational level?
At National Level a proper and comprehensive HRP efforts can help us identify the levels of skills, knowledge and attitude of the young people of a country who are passed their studies in different disiciplines. It helps in forming both qualitative and quantitative strong points for a nation.
What is a human resource course used for?
Human resource courses are used as a starter for getting your foot in the door for a entry level HR position. These coursed vary in length from 2 weeks to 6 months.
Broadbanding in human resource management?
Broadbanding in HRM means that the number of subordinates who are supervised by one manager whatever his administrative level
What is the importance of Human Resource Management?
human resource is important because of following reasons: 1.improve quality of work life. 2. importance to society. 3. macro level significance. 4. a challenging task
Human resources relationship with operation management?
Operations management and human resource management are the two separate fields. They interact primarily on the administrative issues such as payroll, operations and human resources are intimately related at a fundamental level. Operations are the context that often explains or moderates the effects of human resource activities such as pay, training, communications and staffing.
What has the author J G Lyimo written?
J. G. Lyimo has written: 'Resource inventory for land use planning at village level' -- subject(s): Agriculture, Land use, Rural, Management, Natural resources, Planning, Rural Land use
