Exam (elaborations)
ECS3705 Assignment 2 Semester 2 2024
- Institution
- University Of South Africa
ECS3705 Assignment 2 Semester 2 2024 QUESTIONS WITH ANSWERS
[Show more]
Content preview
ECS3705 Assignment2 Semester 2 2024
QUESTIONS WITH COMPLETE ANSWERS
[School]
[Course title]
, 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)
Mercantilism is an economic theory that emphasizes the role of the state in managing the
economy and building national wealth through policies that maximize exports and minimize
imports. Based on the extract from the article "Kenya keen on fourth industrial revolution," here
are five mercantilist principles implied in the text:
1. State Control over Key Industries
• Implied Principle: Mercantilism supports state involvement in critical industries to
strengthen national power.
• Explanation: The article mentions the government's goal to develop the iron and steel
industry through the establishment of an integrated steel mill. This reflects a mercantilist
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller inotes. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R46,88. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67232 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now