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Triangular Trade

Triangular Trade Review

TermDefinition
Import To take in or buy goods from other countries
Export To sell goods to other countries
Raw Materials Materials before being processed or manufactured into a final form
Manufactured Goods Products that have been made from raw materials especially as a large scale operation using machinery
Triangular Trade A pattern of trade between England, Africa, and the American Colonists
Mercantialism Creating and maintaining wealth by carfully controlling trade
Navigation Acts Law made by Britain that stated the colonies could only trade with Britain
Favorable Balance of Trade When a country exports more than it imports
New England Slave Labor They used them the least because they had big families
Middle Slave Labor They used them more because they had lots of staple crops to attend to
Southern Slave Labor They used them the most because they had cash crops and they are harder to maintain then staple crops
Indentured Servant Someone who works for four to seven years and whose boat trip is paid for and they have the same living conditions as slaves
Slave Someone who has poor living conditions works for free for life
Economy Responsible for the production, distribution, and consumption of goods and services
Production Making of goods
Distribution The selling of goods and services
Consumption The buying of goods and services
Goods Any house hold item or object
Services Anything you do to help someone
Common Jobs Some common jobs where fur selling, making of house hold items, and family farms.
Created by: 18GordonD
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