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Colonal Economy

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Question
Answer
What were the economics of the middle colonies   staple crops, shipyards and trading  
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What is import   Goods that are brought into our country that are made in another country  
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what is export   Goods that are made in our country and shipped to other countries  
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raw materials   materials before being processed or manufactured into a final form  
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manufactured goods   products that have been made from raw materials, especially as a large-scale operation using machinery.  
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Triangular TRade   A pattern of trade between England and the American Colonists  
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Mercantilism   Creating and maintaining wealth by carefully controlling trade.  
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Navigation Acts   Law made by Britain that stated colonies could only trade with Britain  
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Favorable Balance of Trade   When a country exports more than it imports,  
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Economies   THe branch of knowledge concerned with the production, consumption, and transfer of wealth.  
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Production   Making of an item  
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Distribution   Selling of an item  
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Consumption   Buying of an item  
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Goods   A physical item  
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Services   AN act of helping someone  
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Indentured Servant   A person who agrees to work 4-7 years in exchange for a voyage to America  
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Slave   Forced labor with no pay and a lifetime of service.  
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What were the New England jobs   cutting timber making boats and fishing  
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The middle colonies did what?   They planted staple crops  
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Examples of staple crops   wheat,oats and barley  
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examples of cash crops   indigo, rice, tobacco  
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New England had the lowest or highest amount of slaves   lowest  
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Who had the highest amount of slaves. New England the Middle colonies or the southern coloneis   The southern colonies  
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Created by: 18millerb
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