Planning in Mixed Developing Economies
 Economic planning - A deliberate and conscious attempt by the state to formulate
decisions on how the factors of production shall be allocated among different uses
or industries, thereby determining how much of total goods and services shall be
produced in one or more ensuing periods.
 Economic plan - A written document containing government policy decisions on
how resources shall be allocated among various uses so as to attain a targeted
rate of economic growth or other goals over a certain period of time.
 Comprehensive plan - An economic plan that sets targets to cover all the major
sectors of the national economy.
 Partial plan - A plan that covers only a part of the national economy (e.g.,
agriculture, industry, tourism).
 Planning process - The procedure for drawing up and carrying out a formal
economic plan.
 Economic infrastructure - The capital embodied in roads, railways, waterways,
airways, and other forms of transportation and communication plus water supplies,
electricity, and public services such as health and education.
Private Sector in Mixed Economies
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The subsistence sector
Small scale businesses
Medium size enterprises
Larger domestic firms
Large joint or foreign owned enterprises