WAEC Economics 2017 Theory — Question 23
Question 23 of 23 from the West African Examinations Council (WAEC) Economics 2017 Theory paper, with the correct answer and a full explanation.
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8(b) Outline two advantage and two disadvantages of a common market.
Model answer
Advantages of common market: (i) Stability is promoted as each member of a country know the tariff to pay (ii) It fastens friendliness among member countries. Disadvantages of common market: (i) It may lead to human trafficking (ii) The development of member countries may be one sided as people will prefer to move their goods to places with high population.
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