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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Ross Chase

27 June, 13:13

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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Emmy Blackwell · 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.