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Colonial Economy
Mercantilism, Jobs
Term | Definition |
---|---|
Economy(5) | Consumption, Distribution, Production of Goods and Services |
Common jobs(3) | Farming, Making household items and Trapping for furs |
CJ New England(3) | Shipbuilding, Fishing, Timber |
CJ Middle(2) | Farming staple crops(wheat, oats, barley) and trade |
CJ Southern(1) | Farming cash crops(tobacco, rice, indigo) |
Indentured Servant | A person who made the choice to work on a farm in the colonies for 4-7 years for a free voyage to the New World. A shortage occurred with indentured servants because of poor working conditions |
Slave | Forced labor for their whole life |
Slave labor by region | NE-least because they didn't have farms M-middle because their farms weren't labor intensive S-most because there crops were more labor intensive |
Mercantilism | Creating and maintaining wealth by controlling trade of another country |
Import | Goods that are brought in from another country to our country |
Export | Goods that are made in our country and shipped to another country |
Favorable balance of Trade | When a country exports more than it imports (Britain had the favorable balance of trade with the colonies) |
Navigation Acts | Law made by Britain that states that the colonies could only trade with Great Britain so Britain would receive the favorable balance of trade |