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Colonial Economy

Mercantilism, Jobs

TermDefinition
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
Created by: 18weaverb