Choose only 2 questions to answer from these three questions. If more than 2 questions have been answered, only the first two will be marked. Each question is worth 50%. Word limit per question is 500 words. QUESTION 1 The diagram below shows the pattern of economic development in Britain. Japan, Italy, China and India over that last millennium. What theories and model that can explain the flat pattern of the economic development in most of the history. 30,000 = . Britain I Japan 0 ltahr --' Cmna .lnma I l' l 25.000 -- GDP per capita a E's\" 5.000 - 1000 1200 l 400 1600 1800 2000 Year SOURCE: The Maddison Proiect QUESTION 2 Analyse how the model of technoiogy can explain the massive economic development over the recent 200 years or so. What has happened over the past two centuries to allow the developed world to escape the 'Malthusian trap'? QUESTION 3 Explain how individual preferences and constraints are accounted for when modelling individual decision-making. Is this model of individual decision-making a good representation of how individuals make an optimal choice