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ECS3705 Assignment 2 Semester 2 2024
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ECS3705 Assignment 2 Semester 2 2024
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ECS3705 Assignment 2Semester 2 2024
QUESTIONS WITH COMPLETE ANSWERS
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, ECS3705 Assignment 2 Semester 2 2024
“Kenya keen on fourth industrial revolution” Read the following article and
then answer the questions that follow. The government has identified
specific goals and targets to steer growth as the country strives to catch up
with the fourth industrial revolution. The fourth industrial revolution is the
ongoing automation of traditional manufacturing and industrial practices,
using modern smart technology. Among government targets is the
development of the iron and steel industry through the establishment of an
integrated steel mill. Source: The Star Access date: 29 August 2024 For full
article visit website:
Question 1
After reading the extract, identify and explain any five mercantilist principles
that are implied in the article. Make sure your answer is based on
information in the case study. (25 marks)
To answer the question regarding the mercantilist principles implied in the
article about Kenya's pursuit of the fourth industrial revolution, you can
identify and explain the following five principles:
1. Government Intervention in the Economy: Mercantilism
emphasizes the role of the government in regulating the economy to
enhance national wealth. The article mentions that the Kenyan
government has identified specific goals and targets for growth,
indicating a proactive role in guiding economic development,
particularly in the iron and steel industry.
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