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colonial economy

QuestionAnswer
What common jobs were available in the New England colonies? Cutting timber, shipbuilding, and fishing.
What common jobs were available in the Middle colonies? Growing staple crops.
What common jobs were available in the Southern colonies? Growing Cash crops.
what jobs did all colonies have? Self sufficiency, fur trapping/trading.
What are economics? The science that deals with production, distribution, and consumption of goods an services.
What is mercantilism? Creating and maintaining wealth by carefully controlling trade.
what are the Navigation Acts? Law made by Britain that stated the colonies could only trade with Britain.
What is favorable balannce of trade? When a country Exports more than it imports.
What is import mean? Goods that are brought into a country that were made in another foreign country.
What does export mean? Goods that are made in a country and are shipped to other foreing countries.
Created by: 18MeagerA