Problem:

1.1 Clearly explain the costs and benefits of being a small and remote island or a ministate economy.

1.2 Over the years, the role of government has been defined along with the process of nationalisation (based market failure) and that of privatisation (based government failure). This implied the role of the state shifting from direct intervention in production or distribution of goods/services to a situation of minimal intervention.

Explain the role that the governments of developing nations should play in the age of information and globalisation.

1.3 We live in a time when knowledge is exploding, more knowledge, new techniques, new abilities are changing the world. Education is the only means to enhance man from ignorance and superstition and to help him master his environment.

Critically assess the importance of education.