1i.large population-there is high number of people in weat africa, leading to high labour force
ii. Farming-due to agriculture being the mainstay in west africa, it brings about availability of raw material
iii. High financial institutions-there are many banks that render financial assistance to the populace
iv. Democracy- the non-military government in most nations give freedom to most commercial activities
v. Efficient transportation- due to free movement, commerce has had great enhancement in west africa
8i.it leads to distribution of commodities to final consumers
ii. It rgulates price level of commodities
iii.it brings about even distribution of commodities to all parts of the country
iv.it controls inflation and deflation in the economy
v. It serves as means of source of living i.e. Occupation
2ai. partners must have access to partnership account
ii.partners are entitled to expenses incurred in the business
iii. They are entitled to compensation
iv they should be consulted before admmision of another partner
v. Partners are entitled to dividends
2bi. They must be loyal
ii. they must share liabilities
iii. Majority of partners are binding on the firm and must be respected
iv.they are bound by contract entered into by partnership
v. Partners must not make secret profit in the course of partnership business without disclosing such profits
4ai.they protect local producers
ii. They regulate excess importation
iii. They defend the rights of local manufacturers
iv. They resist against foreign dominance
v. They promote and improve local production efficiency in the nation.
4bi. They also participate in the collection of taxes of imported and exported goods,
ii. They are also avoid movements of cotrabands goods.
iii. They are also involved in the regulation and movement of sea transportation.
iv. They are also licence to check in and check out foreign commodities,
v. funds are als generated from imports and exports of These goods.
9a. Economic grouping can be defined as a process, where by a group of countries with related economic activities are setup to provide reasonable means of living to those displaced in the war ravaged country.
The International monetary fund (IMF)
2. The International Bank For Reconstrution and development (IBRD)
3. The African Development Bank (ADB)
4. Economic Community Of West African States (ECOWAS).
The body is to encourage development , especially in the third world country, like Nigeria and Ghana,
2. The main purpose of the body is to secure a steady income for producing country
3. To reconcile the expansion and balance the growth of international trade with high level of employment 4. To provide technical assistance for project preparation study and execution.
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