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driven by electrical, electronic and optical products (9.3%) due to the production of domestic oriented industries such as consumer electronics and communication equipment. Mining and
driven by electrical, electronic and optical products (9.3%) due to the production of domestic oriented industries such as consumer electronics and communication equipment. Mining and quarrying sector posted a strong growth of 9.6%. The growth was primarily reflected by a double digit increase in the production of crude oil. On the contrary, production of natural gas declined in this quarter. Adapted from The Star online, May 15, 2015 Define Gross Domestic Product (GDP). Briefly explain three (3) approaches to calculate GDP. (8 marks) From the above article, briefly explain three (3) economic sectors which contribute to our economic growth. (6 marks) As stated in paragraph 1. "GDP at current prices amounted to RM277.2 billion in this quarter. At constant prices in 2010, GDP registered a value of RM254.4 billion." Differentiate between GDP at current prices and GDP at constant prices (3 marks) Paragraph 2 states that "BNM said the current account surplus improved in the quarter to 3.7% or RM10billion of gross national income". Briefly explain two (2) components of the current account
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