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Colonial Economy
| Term | Definition |
|---|---|
| New England Colonies Jobs | Fishing, timbering, and ship building |
| Middle Colonies Jobs | Trade (Merchants) and growing staple crops |
| Southern Colonies Jobs | Growing cash crops |
| Southern Labor | Around 250,000 slaves, used them to work the fields |
| Middle Labor | 40,000-80,000 slaves, used them to work in shipyards or work in fields |
| New England Labor | 1,000-5,000 slaves, used them to fish, timber, or work in shipyards |
| Slave | A human being who worked for life and is a person who is the legal property of another and is forced to obey them |
| Indentured Servant | Worked 4-7 years in exchange for voyage to America, but most of them stopped doing this because they died during their term of service |
| Mercantilism | Creating and maintaining wealth by carefully controlling trade; Britain used this to make money off of the Colonies and forced them to lose money |
| Navigation Acts | Law made by Britain that stated the colonies could only trade with Britain, mercantilism is a really big part of this |
| Favorable Balance of Trade | When a country exports more than they import |
| Import | Goods that are brought into our country that are made in another country |
| Export | Goods that are made in our country and shipped to other countries |
| Economy | Producing, distributing, and consumption of goods and services |
| Common Jobs | Fur trapping, maintaining small farms, and making household items |
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