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ECS3705 Assignment 2 Semester 2 2024
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ECS3705 Assignment 2 Semester 2 2024 QUESTIONS WITH ANSWERS
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[Date]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)
To address the question about mercantilist principles implied in the article "Kenya
keen on fourth industrial revolution," here are five principles you can identify and
explain:
1. State Intervention in the Economy:
o The article suggests that the Kenyan government is actively
identifying specific goals and targets for economic growth. This
reflects the mercantilist principle that the state should play a
significant role in directing economic activity to achieve national
prosperity.
2. Promotion of Domestic Industries:
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