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colonial economy

economy production is the making of an item, distribution is the selling of an item, consumption is the buying of an item, a good is a physical item, and a service is the act of helping someone
economic regions farming, making household items, and fur trapping and trading
New England timbering, ship building, and fishing
Middle grew staple crops such as wheat, barley, and oats
Southern grew cash crops such as tobacco, rice, and indigo
use of labor the use of the slave labor and indentured servants
indentured servents a person that agreed to work 4-7 years in exchange for there voyage to america
slaves slaves are people who works there entire lifetime
new englands slave labor new England's slave labor is very low because they don't need the extra help
middle colonies slave labor the middle colonies slave labor was in the median range with the growing of staple crops which need more care then timbering ship building and fishing
southern colonies slave labor the southern colonies slave labor was very high do to the growing of cash crops. cash crops need more intensive care because they are sold for a profit
mercantilism mercantilism is when you buy something and resell it for a profit. Britain uses it with the colonies be getting raw materials and making them into manufactured goods and selling them back to the colonies