ECO261:Introduction to Economic Growth and Development

Economic growth defined as..

• An increase in a country national income or output

• An increase in a county's real national income or output

• National income per capita in a year

• Total income received by household per year

Stability in the political and social environment promotes investments, leading to higher economic growth means:

• labor mobility

• saving levels

• political and social stability

• corruption levels

Socio economic changes involve

• monetary value

• corruptions

• Development of human capital

• reduction of poverty

Economic development deal with

• increases in an economy's output

• structural changes in the economy

Impact of economic growth is

• brings quantitative changes to the economy

• brings quantitative and qualitative changes to the economy

Factors contributing to Malaysia economy include:

• Abundant and diverse types of natural resources

• Increase in infant mobility rate

• Political stability and maturity

• Skilled and productive human capital

The classification of goods in Islam, namely:

• Kamaliyyah

• Dharuriyyah

• Hajiyyah

• Ullulliah

Economic activities such as agriculture, fishery, mining and forestry is

• primary sector

• secondary sector

• tertiary sector

Activities which transform raw materials into semi finished goods and finished goods is

• primary sector

• secondary sector

• tertiary sector

When National Development policy (NDP) were implement?

• 1990-2015

• 1991-2000

• 1995-2005

• 2001-2010