click below
click below
Normal Size Small Size show me how
Colonial Economy
Economies of the Colonies
Question | Answer |
---|---|
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 |