Fashion Institute of Design and Merchandising The Extractive Industries Questionnaire

I’m working on a international economics multi-part question and need an explanation to help me understand better.

CHAPTER 12 – The Extractive Industries

Question 1 – The Extractive Cycles and Strategic Stage Sequences

1. Define and explain each strategic cycle of the extractive industry.
2. Explain the challenges of extractive firms to find new sources of supply.
3. Explain the need for extractive yields and why.
4. What is the connection between exploration and market conditions in the extractive industries?
5. What does it mean regarding time and investment for development? Explain in detail.
6. The rise of specialist firms seems to have become necessary and required. Do you agree or disagree with the above statement and why? Explain in detail your position.
7. What is the definition of a specialist firm in the extractive industry?

Question 2 – The State as a Regulator

1. The state interferes with the above extractive cycles. Do you agree or disagree with this statement? Explain in detail.
2. Countries who take over the extractive industry in the long run fail. What does this mean? Explain in detail as to whether or not you agree with this statement.
3. Outside investment in the state’s natural resources means that the state will lose control of its resources. Do you agree with this statement? Explain in detail.
4. Can the state be an extractive operator? Explain how the state might accomplish this goal.
5. Is the state more effective as an operator than a private company? Why or why not? Explain in detail

Old version book: http://iss.ecnu.edu.cn/_upload/article/files/64/60/d73e7e414d44961b1d581595e55b/80312729-6ba5-44fa-abc4-f20984ae7a5d.pdf

Chapter 12 is Chapter 8 in the old version book.

Chapter 8: ‘MAKING HOLES IN THE GROUND’: THE EXTRACTIVE INDUSTRIES

Do not contain too many references, answer and expand the question according to the content of the book.