Question | Answer |
Economy | The production,distribution, and consumption of a good or service. |
Production | the making of an item |
distribution | the selling of an item |
consumption | buying of an item |
good | physical item like a shirt |
service | the act of helping someone like a teacher |
Common jobs of the colonies | small farms, fur trapping, and the making of house hold items like candles |
New England jobs | Timber, shipbuilding, and fishing |
Middle Colonies Jobs | merchants and staple crops |
Southern Colonies jobs | cash crops |
Indentured servant | someone who agrees to work 4-7 years in exchange for passage to America |
Slave | Someone who is forced to work for their entire life with no pay |
Similarities between slaves and indentured servants | same living conditions |
Why did the number of slaves rise? | The conditions were so bad for indentured servants that no one wanted to get there passage that way. |
New England Colonies slave labor | few because they didn't need them because they didn't really have many crops |
middle colonies slave labor | some but not so much because they also had merchants not just crops |
Southern colonies slave labor | a lot because they lived mainly off of cash crops which were labor extensive |
Mercantilism | creating and maintaining wealth by controlling trade, Britain did this when they forced the Colonies to sell their raw materials to them and forced them to buy their manufactured goods. |
Import | something you buy |
export | something you sell |
favorable balance of trade | exporting more than you import, Britain has it |
navigation acts | a law made by Britain that the Colonies could only trade with them. Britain controlled the trade between them and the colonies so they had the better trade |
Staple crop | a crop that is always in demand like wheat barley and oats |
cash crop | profitable crops like indigo, rice, and tobacco |