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Colonial Economy

QuestionAnswer
Production, Distribution, Consumption,Goods, and Services Economy
New England, Middle Colonies, and Southern Colonies Economic Regions
Small farms, household items, and fur trapping and trading Common Jobs
Timber, building ships, and fishing New England
Staple crops (wheat,barley,oats), Shipyards, and trade Middle Colonies
Cash Crops(tobacco,rice,indigo) Southern Colonies
Slaves and indentured servants Use of Labor
Works 4to7 years They stopped doing it because people told them about the harsh conditions. Indentured Servant
Works his or her entire life time Slave
New England: least Middle Colonies: middle Southern Colonies: most Slave Labor by region
Creating and maintaining wealth by carefully controlling trade They make the colonists buy things from them and the colonists have to sell their productions with Britain also. Mercantilism
Goods that are brought into our country that are made in another country Import
Goods that are made in our country and ship to other countries Export
When a country exports more than they import -Britain does it Favorable Balance of Trade
Law made by Britain that stated the colonies could only trade with Britain -It ties in with mercantilism because they only get to trade and buy from one country. Navigation Acts
making of an item production
selling of an item distribution
buying of an item consumption
physical items goods
helping someone else services
Created by: 18gingerichh