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Colonial Economy

Economy The production, distribution, and consumption of goods and services
Making household items, trapping furs, and small farming Common jobs throughout the colonies.
New England Colonies Had ship building, timber, and fishing
Middle Colonies Grew staple crops such as wheat, barley, and oats, and trapped and traded furs.
Southern Colonies Grew cash crops(crops grown only for money), such as tobacco, indigo, and rice.
Indentured Servant Volunteered to work for a person for 4-7 years in exchange for a trip to America and would be treated as a slave. People stopped doing this after a while because word got around of how terribly they got treated.
Slave Born into labor with no pay. They could not get out of labor and it was very hard work, and they lived in very poor conditions and got treated very badly.
New England colonies Had least amount of slaves, about 1,000, because families worked and didn't need a lot of slaves.
Middle colonies Had about 15,000 slaves because of farming, was in the middle amount of slaves.
Southern Colonies Had about 230,000 slaves, the most out of all the colonies, because of the amount of care the cash crops needed.
Mercantilism Creating and maintaining wealth by carefully controlling trade. Britain controls trade so that the colonies can only trade with Britain. They enforce this with the Navigation Acts.
Import Things brought into a country to be bought that were made in another country
Export Things made in a country to be shipped out of another country to be sold.
Favorable balance of trade When a country exports more than they import, so they make more profit. Britain had this
Navigation Acts Law made by Britain that stated the colonies could only trade with Britain.
Created by: 18MulletSophia



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