Exam (elaborations)
ECS3705 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024
- Course
- ECS3705
- Institution
- University Of South Africa
ECS3705 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024
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, ECS3705 Assignment 2 (COMPLETE ANSWERS)Semester 2 2024 - DUE September 2024 ; 100%
TRUSTED Complete, trusted solutions and
explanations.
“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 identify and explain five mercantilist principles implied in the
article, let's first clarify what mercantilism entails. Mercantilism
is an economic theory popular in Europe from the 16th to the
18th century, advocating that a nation's wealth and power were
best served by increasing exports and collecting precious metals
in return. The theory emphasizes government intervention,
protectionism, and a focus on building a strong national
economy.
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