Which Would a Mercantilist Value the MOST

question 51

Multiple Choice

Which would a mercantilist value the MOST?

• A) labor
• B) a trade surplus
• C) absolute advantage
• D) a trade deficit
• E) factor endowments

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Definitions:

Prime Costs

The total of direct materials and direct labor costs associated with the production of goods.

Specialized Electronic Parts

Electronic components designed for specific applications or uses, often critical for the performance of specialized equipment.

Supplied Resources

The materials, labor, and other inputs provided for production or service delivery processes.

Production

The process of creating goods or services by combining labor, materials, and technology.