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Colonal Economy

QuestionAnswer
What were the economics of the middle colonies staple crops, shipyards and trading
What is import Goods that are brought into our country that are made in another country
what is export Goods that are made in our country and shipped 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 and the American Colonists
Mercantilism Creating and maintaining wealth by carefully controlling trade.
Navigation Acts Law made by Britain that stated colonies could only trade with Britain
Favorable Balance of Trade When a country exports more than it imports,
Economies THe branch of knowledge concerned with the production, consumption, and transfer of wealth.
Production Making of an item
Distribution Selling of an item
Consumption Buying of an item
Goods A physical item
Services AN act of helping someone
Indentured Servant A person who agrees to work 4-7 years in exchange for a voyage to America
Slave Forced labor with no pay and a lifetime of service.
What were the New England jobs cutting timber making boats and fishing
The middle colonies did what? They planted staple crops
Examples of staple crops wheat,oats and barley
examples of cash crops indigo, rice, tobacco
New England had the lowest or highest amount of slaves lowest
Who had the highest amount of slaves. New England the Middle colonies or the southern coloneis The southern colonies
Created by: 18millerb
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