The purpose of colonies is to ship raw materials to the colonial power and buy finished goods from the colonial power. this statement reflects the basic idea of which economic system?

The given statement is true which can be defined as follows:

Explanation:

In this question, the modern technology is used to create by outdated technology, which copied information and removes producing material and that in the olden times there will be better engineers, and the latest equipment and their technology, is seen in places, that's why the given statement is true.