Question 1
a)Explain why national income statistics,such as GDP,is not a satisfactory measure of living standards and economics well-being in a country (5 marks)

b)Outline and explain in details the merits and demerits of rapid economic growth. (20 marks)

Question 2
a)List five main factors of economic development. (5 marks)

b)Explain in details why economic growth is necessary but not sufficient for attaining economical development. (10 marks)

c)Discuss the relevance of Malthus theory of population to contemporary developing countries (10 marks)

Question 3
a)In an attempt to transform agricultural sector,the government has to choose between labour saving and land augmenting technologies.Which of the two technologies would you recommend to the government?Give reasons for your answer (5 marks)

b)Discuss in details why there has been renewed interest in agriculture in developing countries,despite the sector having been neglected in the past decades. (20 marks)

Question 4
a)Discuss how technological progress might hasten as well as slow the process of economic development (25 marks)

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