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Colonial Economy

Economic

QuestionAnswer
Worked without pay and for life Slave
Worked for 7 years for the voyage over to the colonies: stopped because people realized the treatment they were going to get and instead they were replaced with slaves Indentured Servant
Jobs-Staple crops, merchants, and shipyards-Worked in cities or on farms, grew staple crops(less labor intensive), in shipyards( loading and unloading vessels), etc.. Middle Colony
Jobs-Cash Crops-Worked on larger farms and as servants. Southern Colony
Creating and maintaining wealth by carefully controlling trade. Mercantilism
Jobs-Fishing, Timber, Ship Builders-Lived in cities usually and worked in homes or shops, helped build ships, carpenters, goldsmiths, blacksmiths,etc.. New England Colonies
Goods that are brought into our country that are made in another country. Import
Goods that are made in our country and shipped to other countries Export
When a country exports more than they import Favorable Balance of Trade
Law made by Britain that stated the colonies could only trade with Britain. Britain is forcing the colonies to send them raw materials to receive manufactured goods only from Britain. Navigation Acts
Forced colonies to buy their Manufactured Goods ad would not allow them to trade with any other countries. Britain
Forced to sell raw materials to Britain and to buy manufactured goods from Britain. Colonies
Materials before being processed or manufactured into a final form. Raw Materials
Making of an Item Production
Selling an Item Distribution
Buying an Item Consumption
Physical Item Goods
An act of helping someone Services
Crop that is in constant demand-Wheat, barley,and oats Staple Crops
Crop that is own grown for money reasons or to sell.-indigo, tobacco Cash Crops
Britain is ____________ and ___________ wealth by carefully __________ the colonies trade. Creating and maintaining controlling
financial considerations; the science that deals with the production, distribution,and consumption of goods and services; or significant aspects. Economy
Created by: 18ChapmanG