Malaysia's Economic Development Policies Quiz

Economic plans implemented by a government for a specific period, usually 5 years, aiming to achieve economic objectives.

The New Economic Policy (NEP) was implemented in Malaysia from 1971 to 1990, focusing on two key goals: 1) Eradication of poverty among all races. 2) Achieving a restructuring of society to eliminate racial economic disparity.

The period from 1971 to 1990 during which the New Economic Policy was in effect in Malaysia.

A long-term economic plan with a time frame exceeding six years, often encompassing a broad vision for national development.

An economic plan designed to be carried out within a period of less than 5 years. It is a practical implementation of a long-term vision.

The annual plan that outlines the government's budget and spending priorities for the upcoming fiscal year. It serves as a short-term action plan within the medium-term framework.

A policy framework that aims to achieve a particular objective – such as poverty reduction or income equality – over a specific period, typically 10 years.

A plan used to achieve a particular objective, usually within a short period of 1 year.

The New Economic Policy (NEP) aimed to create national unity in Malaysia by promoting economic growth and social equality.

The NEP aimed to reduce poverty through measures such as increasing access to land, capital, training, and public amenities. It also encouraged education and employment in modern sectors.

The NEP sought to restructure society by reducing reliance on subsistence agriculture and increasing participation of Malay and indigenous people in urban and rural sectors.

MARA, a government agency, was established to help achieve the goals of the NEP by providing financial and other support to the Bumiputera community.

The National Development Plan (NDP) continued the core principles of the NEP, while adjusting to new challenges with the aim of achieving balanced development and becoming a fully developed nation by 2020.

The NEM's goal to achieve a higher level of income for Malaysia, focusing on growth and prosperity.

The NEM prioritizes sustainability, meaning economic activities should not harm the environment for future generations.

The NEM emphasizes inclusivity, ensuring economic benefits reach all segments of society, reducing income inequality.

A core NEM initiative to boost private sector growth by creating a favorable environment for investment and rebalancing the role of public-private partnerships.

A NEM strategy to develop a high-quality workforce locally, reducing dependence on foreign labor through upskilling, attracting talent, and addressing market barriers.

A NEM strategy to create a strong domestic economy by promoting competition, nurturing entrepreneurship, and addressing market distortions.

A NEM initiative to create a lean and efficient government prioritizing customer service, improving decision-making, and providing a safety net to facilitate a smooth transition.

A NEM strategy to implement transparent affirmative action policies that focus on income growth and reducing the gap between the rich and the poor.

The transfer of activities and functions from the public sector to the private sector. This can involve the transfer of management responsibility, assets, and personnel.

The government's policy introduced in 1983 to transfer certain public sector activities to private companies.

Reducing the government's workload by transferring responsibilities to private companies.

The increase in the overall price level of goods and services in an economy.

Economic growth that considers the impact on the environment and aims to protect it.

A measure of economic output that takes into account the environmental impact of production.

The process of improving skills and knowledge in the workforce through training and development programs.

Focusing on improving the efficiency of public services to provide better outcomes for citizens.

The NEM aimed to achieve an average real growth rate of 6.5% per annum between 2011-2020, aiming to increase per capita GNP to USD17,700.

The NEM emphasized unlocking investment, driving labor productivity, and boosting efficiency to achieve its objectives.

The NEM aimed to ensure that the benefits of economic growth were shared among all Malaysians, fostering a sense of belonging and inclusivity.

The NEM focused on reducing income disparity, achieving market-friendly affirmative action, narrowing regional differences, and promoting equal access to opportunities.

The NEM proposed market-friendly affirmative action to help the bottom 40% of households, primarily bumiputera and those located in Sabah and Sarawak.

The NEM emphasized transparency and merit-based access to resources for the bottom 40%, eliminating quotas and conditions.

The NEM aimed to ensure that economic growth was sustainable in both economic and environmental terms.

The NEM aimed to maintain fiscal discipline to ensure macroeconomic balance and financial stability as part of its strategy for economic sustainability.

The NEM recognized public sector reform as a crucial component for long-term fiscal sustainability.

The NEM aimed to create an ecosystem for entrepreneurship, promoting innovative environments and strengthening enabling institutions.

A comprehensive plan implemented from 2001 to 2010, encompassing the 8th and 9th Malaysian Plans, with the primary goal of achieving national unity by building a united, progressive, prosperous, and harmonious Malaysian society. It also aims to ensure fair partnerships among all Malaysians.

A key strategy of the NVP aimed at eliminating poverty across all racial groups in Malaysia. It emphasizes strengthening economic growth, promoting financial stability, and fostering the development of information technologies.

A core strategy of the NVP aimed at transforming Malaysian society into a more equitable and inclusive one. This involves creating a fairer distribution of wealth and opportunities across various social groups.

A strategic approach of the NVP aimed at ensuring sustainable and inclusive economic growth, focusing on environmental protection, regional development, and closing the development gap between different regions of Malaysia.

A key initiative launched in 2010 with the goal of transforming Malaysia's economy into a high-income and high-quality one by 2020. This aims to overcome the middle-income trap and propel Malaysia towards the forefront of global economies.

A situation where a nation's economic growth stagnates despite reaching a certain level of income. This is characterized by a lack of competitiveness and reliance on low-value-added activities.

A key component of the NEM, it aims to achieve a deeper integration of the private sector into the Malaysian economy, increasing its roles in driving innovation, fostering competitiveness, and promoting economic growth.

A comprehensive approach adopted under the NEM to create a favorable environment for businesses, attract investments, and boost economic growth. Focuses on streamlining regulatory processes, strengthening infrastructure, and improving the business climate.