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What are the major determinants of quality of life?(12 marks) Discuss the view that national income statistics cannot adequately reflect differences in the standard of

  1. What are the major determinants of quality of life?(12 marks)
  2. Discuss the view that national income statistics cannot adequately reflect differences in the standard of living of people in different countries and explain other possible indicators of living standard.(12 marks)
  3. Analyse the pricing strategies followed by oligopoly firms and discuss the extent to which oligopolies are better than monopoly and monopolistic competition.(15 marks)
  4. To what extent do you agree that the WTO has failed in preventing protectionism at the international level. Support your answer with relevant cases and examples.(15 marks)

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