Q2 (a) (i) List TWO (2) Industrial Classification Standard. (2 marks) (ii) State THREE (3) example of sections in the Industrial Classification Standard as in Q2(a)(i). (3 marks) (iii) Explain the purpose of the Industrial Classification Standard. (3 marks) (b) The growth and structural transformation of the economy over the last three decades has occurred within the framework of a liberal trade and investment regime as well as the extensive use of so-called functional and selective industrial policies. The overall approach to industrial development is anticipated to continue, but a shift towards more market-based policies is apparent in the industrial policy adjustments introduced since the late 1980s. A more pragmatic approach to policy interventions was adopted to adapt to Malaysia's rapidly changing comparative advantage and to cope with increasing global competition and revised regional and international rules and regulations. The recession of the mid-1980s brought to light the urgency to re-evaluate and redefine development strategies and policies. The effect was a broad shift from a relatively diffused policy approach to a more comprehensive and integrated strategy to foster industrial dynamism. (Source: Mark Wiley, 2016) Discuss Phases of industrial development in Malaysia. (18 marks)