Exam (elaborations)
ECS3705 Assignment 2 Semester 2 2024
- Institution
- University Of South Africa
ECS3705 Assignment 2 Semester 2 2024 QUESTIONS WITH ANSWERS
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[Company name]ECS3705
Assignment 2
Semester 2 2024
QUESTIONS WITH DETAILED ANSWERS
, 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 on mercantilist principles as implied in the article regarding
Kenya's focus on the fourth industrial revolution, you can consider the following points:
1. Government Intervention
• Explanation: Mercantilism emphasizes the role of the government in economic
affairs. The article indicates that the Kenyan government has identified specific
goals and targets to steer growth. This reflects a proactive approach to shaping
the economy, characteristic of mercantilist policies.
2. Focus on Manufacturing
• Explanation: The article mentions the development of the iron and steel industry
and the establishment of an integrated steel mill. Mercantilist principles advocate
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