Submission date: 27 January 2023 0:52 MDIS Module leader: Mr Perry 4G 28 BblBOA yKa3aHHON CTpaHNubl AOKyMeHTa PDF AnA 60nbLUNX pNcyHKOB, npocTOTa 06MeHa annaMu X 06MeH N306paxk. 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 Japan . Italy 25,000 . China India 20,000 GDP per capita 15,000 10,000 5,000 1000 1200 1400 1600 1800 2000 Year SOURCE: The Maddison Project QUESTION 2 Analyse how the model of technology 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? End KOHELL