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Colonial Economy
Question | Answer |
---|---|
Import | Goods that are brought into our country that are made in another country. Example - Toys,tools,and clothes. Oil Machines Electronic equipment |
Export | Goods that are made in our country and shipped to other countries. 1 Machines and Engines. 2 Electronics 3 Oil 4 Vehicles 5 Aircraft |
Raw Materials | Materials before being processed or manufactured into a final form. Item in its natural state,Timber,Food items, Furs,Manufactured Goods. |
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 Colonies. Colonies were exporting raw materials and importing manufactured goods. |
Navigation acts | Law made by Britain that started the colonies could only trade with Britain. By passing a law so the can only trade great Britain. |
Favorable balance of trade | When a country exports more than they import. |
Mercantilism | Creating and maintaining wealth by carefully controlling the trade. Great Britain |
Economy | Production, Distribution, of goods and services. |
Coman jobs | farming. House jobs and fur and trapping |
NE jobs | Timber,Shipbuilder, Fishermen |
Middle colony jobs | Staple colony, Shiping raw materials to england Wheat barley and oats |
The southern colony | The grew cash crops Rice tobacco and indigo |
Slave labor | NE had the least than the middle lastly the southern. |
Slave | A person forced to work until death and they have nothing in return |
Indentured servant | A person that works for someone 4 -7 years. They are treated the same as slaves but they work to pay off there fair. |