Which of the following arguments are in favour of establishing ECOWAS? I. The countries concerned would be able to expand market beyound their territorial b...

Answer Details

The arguments in favor of establishing ECOWAS are: I. The countries concerned would be able to expand market beyond their territorial boundaries. This means that member countries of ECOWAS can trade with each other freely without restrictions, which can lead to increased trade, investment, and economic growth. II. Currency union is the final objective of member countries. This means that member countries of ECOWAS are working towards a common currency, which can facilitate trade and investment further, as well as reducing transaction costs. IV. Free movement across the borders of members would be allowed. This means that citizens of member countries of ECOWAS can travel and work freely in other member countries without any restrictions, which can lead to increased job opportunities and cultural exchange. Therefore, the correct option is: I, II & IV only. Option II & III only is incorrect because capital movement is allowed across the boundaries in ECOWAS. Option I & III only is also incorrect because free movement across the borders of members is allowed in ECOWAS.