Question: Question 1. [6 marks] [For the following question write short succinct answers, no more than short paragraph for each sub- question] Consider South Africa: i.

Question 1. [6 marks] [For the following question write short succinct answers, no more than short paragraph for each sub- question] Consider South Africa: i. Is the current allocation of income Pareto Efficient? Ensure you explain why, including what you mean by Pareto Efficiency. ii. How fair is the allocation of incomes and opportunities in South Africa? Consider according to both the substantive and procedural judgements of fairness. Ensure you clearly explain what you mean by substantive and procedural judgements of fairness iii. Consider current economic policies in SA. Are there any trade-offs between Pareto Efficiency and fairness

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