promote commereialization policies
promote commereializati10n policies
discourage foreign investors
ensure production of quality goods
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The correct answer is D: ensure production of quality goods.
The Economic Community of West African States (ECOWAS) is a regional economic community that aims to promote economic integration and cooperation among its member states. One of the key objectives of ECOWAS is to ensure the production of quality goods and services, which can compete favorably in the global market.
ECOWAS aims to achieve this objective by:
* Promoting trade liberalization and facilitation
* Encouraging investment in key sectors such as agriculture, industry, and services
* Developing and implementing policies to improve the quality of goods and services
* Strengthening regional institutions and mechanisms to support economic integration
The other options are not correct because:
* A and B: Commercialization policies are not a primary aim of ECOWAS. While commercialization can be an important aspect of economic development, it is not a specific objective of ECOWAS.
* C: ECOWAS actually aims to attract foreign investment, rather than discourage it. The community recognizes the importance of foreign investment in promoting economic growth and development, and has implemented policies to attract and retain foreign investors.
Some of the key aims of ECOWAS include:
* Promoting economic integration and cooperation among member states
* Encouraging trade and investment in the region
* Developing and implementing policies to improve the quality of goods and services
* Strengthening regional institutions and mechanisms to support economic integration
* Promoting economic growth and development in the region
Examples of ECOWAS initiatives to promote quality goods and services include:
* The ECOWAS Trade Liberalization Scheme (ETLS)
* The ECOWAS Common External Tariff (CET)
* The ECOWAS Quality Policy
* The ECOWAS Standards and Metrology Program
Note that ECOWAS is a regional economic community that aims to promote economic integration and cooperation among its member states, and its objectives and initiatives are designed to support this goal.
D IS THE ANSWER To get this right in your JAMB Economics or Commerce exam, you should know that the main goal of ECOWAS is Economic Integration.
Here is why the other options don't fit:
A & B: Commercialization is usually a national policy (like in Nigeria) rather than a regional aim for a body like ECOWAS.
C: This is the opposite of what they want. ECOWAS actually tries to create a large, stable market to attract foreign investment.
D: By harmonizing industrial policies and encouraging trade, ECOWAS aims to improve the standards and quality of goods produced within the West African sub-region so they can be traded easily between neighbors and abroad.
