Answer:
Five reasons why Nigeria joins international economic organizations:
- Economic theory shows that international trade benefits all countries because it allows each country to specialize in producing what they do best, a quality that is known as comparative advantage.
- Economic historial evidence supports the theory and demonstrates that countries that integrate economically with others, grow and develop more than the countries that remain more closed.
- Economic integration is also a way to reduce conflict, because when countries have mutual economic interests, they are less likely to go to war with each other.
- International trade benefits consumers, by allowing them to access goods and services from abroad that may be cheaper than Nigerian ones.
- Economic integration also benefits businesses, by giving them access to new, integrated, and larger markets.