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- It is an instrument to work out land and infrastructure requirements for various urban and rural uses, and allocate land for various uses to result in harmonious and sustainable distribution of activities so that towns / cities are provided with a form and structure within which they can perform all their economic and social functions efficiently and effectively.
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MASTER PLAN definition: 1. an organized set of decisions made by one person or a team of people about how to do something…. Learn more.
The end product is called a comprehensive plan, [1] also known as a general plan, [2] or master plan. [3] This resulting document expresses and regulates public policies on transportation, utilities, land use, recreation, and housing.
Economic planning is a resource allocation mechanism based on a computational procedure for solving a constrained maximization problem with an iterative process for obtaining its solution. Planning is a mechanism for the allocation of resources between and within organizations contrasted with the market mechanism.
Definition of master plan noun in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.
Planning approach is often characterized as stiffly regulatory while the market approach is characterized as more flexible. However, this article asserts that planning is not about market failures and regulatory remedies but can be better understood by several other economic principles.
Dec 11, 2020 · A master plan is a broad term referring to the framework created for the physical development of a place. It typically consists of a top-down strategy for major change in an area, with the supporting financial, economic, and social policy documents as well as delivery mechanisms that outline its proposed implementation.
