One of the characteristics of free trade zone is
common tariff against non- member countries
different trade policies of non- member countries
free factor mobility within the zone
harmonized trade among member countries
If Nigeria imports vehicles from Japan the transaction will appear as a
debit on Japan's balance of payments
credit on Japan's balance of payments
credit on Nigeria's balance of trade
credit on Nigeria's balance of payment
One of the objectives of ADB is to
provide subsidies on imported goods to member countries
mobilize short-term loans for member countries
promote economic and social development of member countries
provide technical assistance to only poor member countries
The choice of the method of production in an economy is determined by the
level of technical know-how
rate of population growth
availability of natural resources
level of income
The amount of labour hired depends on the
number of skilled labour available
skill of labour
marginal productivity of labour
price of the inputs
