Exam (elaborations)
ECS3705 Assignment 2 Semester 2 2024
- Course
- Economics (ECS3705)
- Institution
- University Of South Africa (Unisa)
ECS3705 Assignment 2 Semester 2 2024 QUESTIONS WITH DETAILED ANSWERS
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[Company name]ECS3705
Assignment 2
Semester 2 2024
QUESTIONS WITH 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)
Question 2
Based on the information in the article, from a mercantilist perspective, identify and
explain three ways in which Kenya’s strategic development of iron and steel industry
can contribute to increasing the country's export capacity and reducing reliance on
imported goods. (18 marks)
Question 1: Identify and explain any five mercantilist principles implied in the article. (25
marks)
Mercantilism is an economic theory that emphasizes the role of the state in managing
the economy, particularly in achieving a positive balance of trade. Based on the article,
here are five mercantilist principles implied:
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