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Colonists Economy

Test for Friday

QuestionAnswer
Something that is made is another country and brought into yours. Import
Something that is made in your country and shipped to another country. Export
The ________ is what the stuff is before it is made into something else Raw Materials
Things made from raw materials Manufactured Goods
A trade pattern between the colonists, England, and Africa. Triangular Trade
Creating and maintaining wealth by carefully controlling trade. Mercantilism
Law made by Britain that stated that colonies could only trade with Britain. Navigation Acts
When a country exports more that it imports. Favorable Balance of Trade (Britain)
Name one benefit that Britain had in forcing the colonies into mercantilism. They can get raw materials
Name another benefit that Britain had in forcing the colonies into mercantilism. They get more markets
Jobs that were in all of the colonies, fur trapping, making household items, etc.... Common Jobs
Worked until they died Slave
Worked for 4-7 years Indentured Servant
Production, distribution, and consumption of goods and services. Economy
Made ships, timber, and fishing, had least amount of slaves. New England Colonies
Grew Staple crops, trading raw materials to England. Middle Colonies
Cash crops Southern Colonies
Indigo, cash crops, and rice Cash Crops
Had the Least Slaves New England Colonies
Middle amount of slaves Middle Colonies
Had the most amount of slaves. Southern Colonies
Britain benefits the most out of trading since the colonies can only trade with them Britain benefits the most out of trading since the colonies can only trade with them
Created by: 18dunnk