1.Explain the components of well being,highlighting how it relates to Development as understood today(25 marks)
2.(a)What is meant by structural Transformation of an economy?(8 marks)
(b)Why has it proven difficult to “leap Frog”in the transformation process to achieve desired development?(9marks)
(c)Explain the role of Agriculture in the transformation process(9marks)
3.Explain the following concepts,highlighting how they are measured.
(a)National Growth of a country
(b)National Income of a country
(c)Income inequality in a country
(d)Poverty Traps in a country
(e)Malthusian Trap (25marks)
4.(a)What are the characteristics of Developing countries? (12marks)
(b)It is argued that Institutional failure is the main reason for slow or lack of development countries.Discuss (13 marks)
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