The profit that is made by reducing labor costs as companies move their manufacturing and assembly sites offshore is called ______.

Question

Quizplus · Accepted Answer

Surplus value is a concept in Marxist economics referring to the difference between the value produced by labor and the actual wage paid to the laborer. This concept can be applied to the scenario of companies moving their manufacturing offshore to reduce labor costs, thereby increasing their profits.

The Profit That Is Made by Reducing Labor Costs as Companies