WAEC Economics 2022 Theory — Question 9

Model answer

(a) Economic integration is a form of international cooperation among nations to achieve a greater efficiency in the production of goods and services for the social and economic welfare of their countries. (b) Short-comings of ECOWAS: i. Divided loyalty of member states. ii. Ideological differences. iii. Inability to create a common currency. iv. Differences in levels of development among member states/fear of domination of small countries by big countries. v. Political/social instability in the sub-region. vi. Inability to differentiate her products. Members produce similar primary products. vii. Inadequate infrastructural facilities in the sub-region. viii. Lack of political will to implement the policies/agreements of the union. ix. Non-payment of dues by some member states. x. Negative attitude towards member countries because of language differences. xi. Differences in trade policies among member countries. (c) Achievements of ECOWAS: i. Removal of customs duties. ii. Reduced administrative restrictions e.g. on investment. iii. Establishment of common fund for co-operation, compensation and development. iv. Mediation among member states. v. Formation of the Economic Community of West African States Monitoring Group (ECOMOG). vi. Growth and expansion of markets. vii. Unity in the sub-region. viii. Cooperation in culture and sports. ix. Free movement of labour.