Assignment Questions: You are required to write ONE ESSAY related to problems in society using Islamic economic theories by relating community issues to Islamic economic concepts. The title is "The electrical & electronics industry is an important contributor to the Malaysian economy in the manufacturing sector". Describe 4 economic theories related to the issues discussed. (a) Introduction The initial development of the manufacturing industry began in the 1960s under the first Prime Minister, Tunku Abdul Rahman. In the early stages, manufacturing focused on labor-intensive industries such as textiles and light manufacturing. In the 1980s, Malaysia made significant progress in attracting foreign investment in the electrical and electronic sector and led to the emergence of the Electrical and Electronics (E&E) Industry. Over the years, the Malaysian electrical and electronics industry has experienced technological improvement and diversification. The country has moved up the value chain by expanding into higher value-added segments such as semiconductor design, R&D, and manufacturing of advanced electronic products. (b) 4 Economic Theory 1.) Export-Led Growth Theory This theory argues that promoting exports can lead to economic growth and development. In the case of Malaysia's electrical and electronics industry, which is an important contributor to the country's manufacturing sector, promoting the export of electronic products can stimulate economic growth by increasing foreign exchange earnings, attracting foreign investment, fostering technological advancement, and creating job opportunities. 2.) Demand and Supply Supply and demand theory is used to analyze the relationship between the price and quantity of electrical & electronic products produced and sold. 3.) Productivity and Efficiency The electrical and electronics industry can improve productivity and efficiency in product production by using the theory of productivity and efficiency. 4.) Supply Chain Efficiency Larger manufacturers often have more bargaining power with suppliers, allowing them to negotiate better prices for raw materials and components. In addition, they can implement a more efficient supply chain management system and reduce logistics costs.