In what ways will West African countries benefit from economic integration?
ECONOMICS
WAEC 2002
In what ways will West African countries benefit from economic integration?
Explanation
The ways in which West African countries would benefit from economic integration are:
(i) The enlarged market will encourage large scale production.
(ii) Efficiency will be induced in production units.
(iii) Greater resources mobility will be achieved.
(iv) The countries will benefit from specialization in some areas of production.
(v) Job opportunities will be created in the process.
(vi) A wide range of economic activities will improve the quality of life.
(vii)There will be stimulation of faster economic development in the region.
(viii) The countries will have greater powers to participate effectively in the world market.
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