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Colonial Economy

Economies of the Colonies

The production, distribution, and consumption of goods and services Economy
Farming, fur trapping/trading, making household items Common Jobs
Ship building/operating, fishing, timber New England Colonies
Shipping of staple crops (corn, oats, wheat, barley) and furs Middle Colonies
Farms/plantations that grew cash crops (tobacco, rice, indigo Southern Colonies
Person from Africa forced to work with no pay forever Slaves
Person who signed a contract saying that they will work for 4-7 years in exchange for a trip to the colonies Indentured Servants
New England- 1-5 thousand slaves Middle- 13-15 thousand slaves Southern- hundreds of thousands of slaves Slave Labor by Region
Creating and maintaining wealth by carefully controlling trade Mercantilism
A good or service brought into a country Import
A good or service sold Export
When a country exports more than they import Favorable Balance of Trade
Law made by Britain that stated that the colonies could only trade with Britain Navigation Acts
Created by: 18brooksadam