the answer must be long and include compkete answer,it has 25 marks for each question.

QUESTION 1 (25 marks) Some economies are said to be developing while others are developed. Explain the difference between developing and developed economies and discuss whether the problems of a developing economy would be solved if it achieves developed status. QUESTION 2 (25 marks) The table below shows figures for GDP for two countries in 2000 and 2010. Country GDP 2000 GDP 2010 SUS billions SUS billions USA 9825 13271 INDIA 469 929 Discuss whether the above figures are sufficient to conclude that the standard of living in the USA is higher than the standard of living in India