Problem :

(a) Using examples of Least Developed Countries, explain the:

(i) causes of market failures; and

(ii) consequences of market failures

(b) Describe the common set of problems that developing countries usually face.

(c) In your opinion, which of the problems described in part (b), are more significant to Mauritius? Justify your answer.

(d) In the era of globalization countries are called-upon to include the improvement of human resources in their domestic development agenda. Critically assess whether education is a source of economic growth and development.