[Date]
ECS3705
Assignment 2
Semester 2 2024
QUESTIONS WITH COMPLETE 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: Mercantilist Principles in Kenya's Development Strategy (25
marks)
Mercantilism is an economic theory that emphasizes the importance of
accumulating wealth, particularly through trade, with a focus on maximizing
ECS3705
Assignment 2
Semester 2 2024
QUESTIONS WITH COMPLETE 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: Mercantilist Principles in Kenya's Development Strategy (25
marks)
Mercantilism is an economic theory that emphasizes the importance of
accumulating wealth, particularly through trade, with a focus on maximizing
