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Colonists Economy
Test for Friday
Question | Answer |
---|---|
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 |