Using cheap sources of labor to provide raw materials that can be made into finished goods is an example of what concept?

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Uriel Hooper

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31 January, 15:03

Using cheap sources of labor to provide raw materials that can be made into finished goods is an example of what concept?

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Amari Mendoza · Answer 1

The concept of mercantilism teaches the use of cheap sources of labor to provide raw materials that can be made into finished products. Mercantilism is an economic system wherein it serves the interests of merchants and producers. Trading under this system was made for the purpose of bringing gold and silver into the country as well as maintaining domestic employment.