JAMB 2019 Economics · Question 36
ECOWAS was formed for the purpose of________
Options
- A.promoting co-operation and integration
- B.to facilitate the expansion of international trade
- C.to provide insurance
- D.to insure new investment
Answer: A. promoting co-operation and integration
Explanation written with AI and checked against the answer key
Analyze the question: The question asks about the main purpose for which ECOWAS (Economic Community of West African States) was formed.
Explain the concept: ECOWAS was established on 28 May 1975 by the Treaty of Lagos. Nigeria, under General Yakubu Gowon, was a leading force in its creation. Its aims are to promote economic cooperation and integration among West African states, to boost economic growth and development, and to raise living standards in the region. It also promotes free movement of people, goods and services, and a common trade policy and, eventually, a common currency.
Solution, option by option:
- A. Promoting co-operation and integration: This matches the main objective in the ECOWAS Treaty. ✔
- B. To facilitate the expansion of international trade: This describes bodies like the WTO (World Trade Organization). ECOWAS focuses on regional trade, not international trade in general. ✘
- C. To provide insurance: This is the job of insurance companies, or in a sense of organizations like the African Reinsurance Corporation. ✘
- D. To insure new investment: This is closer to what bodies like MIGA (Multilateral Investment Guarantee Agency) do. ✘
Answer: The correct option is A, promoting co-operation and integration.
Exam tip: For questions on regional bodies, look for the keywords cooperation, integration and regional. Associate each organization with its focus:
- ECOWAS: regional integration in West Africa
- WTO: international trade
- IMF: monetary stability
- World Bank: development loans
- OPEC: petroleum policy coordination
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