Europe is the cradle of the Industrial Revolution, which took place around the 19th century in England; to supply the growing industry, European countries went in search of natural resources (raw material). The continent also effectively exploited its internal resources.
The amount of natural resources contained in the continent is restricted, which implies a dependence on raw materials from other countries. However, this dependence does not pose major problems.
What is seen in contemporaneity is a great interest of underdeveloped countries that seek ceaselessly commercialize its resources, promoting a high competitiveness between different nations. The large offer results in lower prices on the international market, which proves the law of supply and demand. In addition, there is another attraction for those who buy: the best quality of the raw material placed in the market, this fact discourages the primary production of mineral resources by countries industrialized. Thus, these countries prefer to acquire quality raw materials at a low price than to extract them in their territories.
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By Eduardo de Freitas
Graduated in Geography
Would you like to reference this text in a school or academic work? Look:
FREITAS, Eduardo de. "Europe: a major consumer of raw materials"; Brazil School. Available in: https://brasilescola.uol.com.br/geografia/europa-um-grande-consumidor-materiaprima.htm. Accessed on June 28, 2021.