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JAMB Economics 2008 Question 47

Question 47

International Economic Organisations

A major trading problem facing ECOWAS is

  1. A.the absence of common currency
  2. B.political instability
  3. C.high poverty level
  4. D.non implementation of decisions
Show the answer and explanation

Answer: A (the absence of common currency)

Explanation

Each ECOWAS country has its own currency, so traders must keep changing money, which makes trade within the region harder.