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Colonial Economy

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Term
Definition
New England Colonies Jobs   Fishing, timbering, and ship building  
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Middle Colonies Jobs   Trade (Merchants) and growing staple crops  
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Southern Colonies Jobs   Growing cash crops  
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Southern Labor   Around 250,000 slaves, used them to work the fields  
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Middle Labor   40,000-80,000 slaves, used them to work in shipyards or work in fields  
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New England Labor   1,000-5,000 slaves, used them to fish, timber, or work in shipyards  
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Slave   A human being who worked for life and is a person who is the legal property of another and is forced to obey them  
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Indentured Servant   Worked 4-7 years in exchange for voyage to America, but most of them stopped doing this because they died during their term of service  
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Mercantilism   Creating and maintaining wealth by carefully controlling trade; Britain used this to make money off of the Colonies and forced them to lose money  
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Navigation Acts   Law made by Britain that stated the colonies could only trade with Britain, mercantilism is a really big part of this  
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Favorable Balance of Trade   When a country exports more than they import  
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Import   Goods that are brought into our country that are made in another country  
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Export   Goods that are made in our country and shipped to other countries  
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Economy   Producing, distributing, and consumption of goods and services  
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Common Jobs   Fur trapping, maintaining small farms, and making household items  
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Created by: 18ShupeB
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