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WAEC Economics 1998 Question 22

Question 22

International Economic Organisations

The problem of small markets in West Africa can be solved through

  1. A.separate planning among the West African countries
  2. B.meaningful co-operation among the West African countries
  3. C.political stability in West Africa
  4. D.imposition of high tariffs on West African exports
  5. E.the central banks of West African countries
Show the answer and explanation

Answer: B (meaningful co-operation among the West African countries)

Explanation

Economic co-operation (integration such as ECOWAS) joins the small national markets into one large market.