T2 WK1 SS3 ECONS L3 TASK ON ECONOMIC INTERGRATION

ECOWAS was founded in

• 1980

• 1960

• 1975

• 1942

A type of economic integration or economic bloc in which all barriers to trade, i.e, tariffs and non-tariff are abolished amongst member nations and common external barriers are levied against non –member countries

• Custom union

• Free Trade Area

• European union

• Common market

An economic integration or bloc which permits the free flow of capital and labour. This type of integration allows for freedom to work in any member country without restriction.

• Free Trade Area

• Custom Union

• Common Market

• ECOWAS

A type of economic integration in which common economic policies are adopted Eg. Adoption of common currency complete with a common central bank. There may be a high degree of political integration among member countries

• Free trade area

• common market

• custom union

• European union

A type of economic integration or economic bloc in which all barriers to trade, i.e, tariffs and non-tariff are abolished amongst member nations but each member determines its own external barriers beyond the bloc. it can also explore other forms of cooperation such as reduction in NTB or trade in services and investments but focus clearly on tariffs

• Free trade area

• European union

• common market

• ECOWAS

Which of these is not an obejctive of economic integration

• to increases trade between countries

• to aid the movement of capital between countries.

• to create jobs for immigrants

• to facilitate economic cooperation and equitable economic development are the basis of economic unions.

Which of these is a monetary policy instrument?

• taxation

• government expenditure

• tariffs

• interest rate

Instruments to limit free trade include all except

• embargoes

• tariffs

• quotas

• money supply

All government laws or policies aimed at limiting free trade is referred to as

• embargoes

• quotas

• protectionism

• tariffs

Globalization can be achieved through

• effective border controls

• enforcing immigration laws

• free trade

• none of the above