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Colonial Economy
Economic
Question | Answer |
---|---|
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 |