Differentiate between economic growth and economic development.   [4]

1.  
2. Discuss the following concepts and indicate how they relate to agricultural andeconomicdevelopment in LDCs:
3.  
4. Share Tenancy.        [4]
5.  
6. Labour surplus.        [4]
7.  
8. Quasi Rent.        [4]
9.  
10. Dual sector economy.        [4]
    1.  
    2. Discuss four ways in which agriculture contributes towards economic development.   [8]
    3.  
    4. Explain the role of agriculture towards foreign exchange earnings of LDC countries. [4]
    5.  
11.  
12.  

QUESTION TWO [28]

2.1 Discuss economic rent vs Ricardian "Corn rent" and explain how these concepts are related to marginal productivity of land in LDCs. [6]

2.2Differentiate betweeneconomic efficiency and economic effectiveness. [4]

2.3 Compare and contrast Fei-Ranis (FR) and Lewis Models of dual economy. [12]

2.4"If a person can get sufficient in four days to support himself for seven days, he will keep holiday the other three; that is, he will live in riot and debauchery." Do you Agree or Disagree? With a use of a diagram, support your response with a detailed discussion. [20]

2.5 Write short notes on the dual economy and migrant labour system in Africa [6]

Answer rating: 100% (QA)

Question One Economic Growth vs Economic Development Economic growth refers to an increase in the production of goods and services in an economy over time usually measured by the Gross Domestic Produc... View the full answer