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Problem 1:
"African Caribbean and Pacific (ACP) countries no longer have preferential access to the European market for their exports, except under provisions of „Special and Differential Treatment? and under the „Everything But Arms? (EBA) initiative. Consequently, ACP countries have engaged in discussions on the Economic Partnership Agreement (EPA) with the European Union".
a) Explain what is meant by Economic Partnership Agreement (EPA).
b) Discuss how the EPA agreement would be beneficial to ACP countries.
Problem 2:
(a) Distinguish between a common market and a customs union.
(b) Regional Integration and Cooperation has been the latest fashion around the world. According to you, does Mauritius stand to benefit by being a member of the different Regional Trading Blocs to which it currently belongs?
Do you agree with the traditional theory that assumes profit maximization as sole objective of a business firm?
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What is all about The Optimal Rule
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