Malaysia’s Vision 2020 policy was introduced with the goal of turning Malaysia into a developed country by the year 2020. In addition, the National Privatisation Policy was also put into effect, under which a number of firms, including those in telecommunications, were transferred into private ownership. Poverty has dropped substantially since these policy measures were introduced.
(a)[2]
Identify how absolute poverty differs from relative poverty.
(b)[4]
Explain two characteristics that describe a developed country.
(c)[6]
Analyse two policy measures that could be used to reduce poverty.
(d)[8]
Discuss whether shifting firms out of the public sector and into private sector ownership will benefit an economy.
Worked solution & mark scheme
This 20-mark question has a full step-by-step worked solution and mark scheme. One marking point: “Relative poverty: income/consumption lower than that of others in the economy” …