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Colonial Economics

Colonial Economic

QuestionAnswer
Farming, Fur trapping and trading, making of household items Common Jobs
Timber New England
Shipbuilding New England
Fishing New England
Staple Crops-wheat, corn, barley, and oats crops that are constantly in demand) Middle Colonies
Shipyards/Trade Middle Colonies
Production-making of an item Economy
Distribution-selling an item Economy
Consumption-the buying of an item Economy
Good-physical item-examples-food, tools, electronics, clothes Economy
Services-an act that helps someone else-examples-teacher, law enforcement, lawyer and banker Economy
Cash Crops(grown for the making of profit)-examples- tobacco, rice and indigo Southern Colonies
A person who is forced to work without pay for a lifetime service Slave
Person who agrees to work 4-7 years in exchangen exchange for theirvoyage to America Indentured Servant
Tens of thousands of slaves, 7% of the population were slaves Slave Jobs- house slaves, growing staple crops/working on farms, skilled laborers Middle Colonies
Between 1 and 5 thousand slaves Slave Jobs- work in owner's homes, shops-skilled craftsman work force- New England Colonies
Two-hundred-thousands/hundred of thousand slaves Slave Jobs- worked on farms growing crops and harvesting crops-1 in 3 slaves on one farm Southern Colonies
Creating and maintaining wealth by carefully controlling trade Mercantilism
Goods that are brought into our country that are made in another country Import
Goods that are made in our country and shipped to other countries Export
When a country exports more than they import Favorable Balance of Trade
Law made by Britain that stated the colonies could only trade with Britain Navigation acts
These both contribute to trade and they also both have to do with Great Britain and how they control trade Mercantilism and The Navigation Acts
This stopped because the work was to harsh, also because the slaves would not make it the full 4-7 year term Indentured Servants
Created by: 18ShoupK