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Colonial Government

QuestionAnswer
What is import? Goods that are brought into our country that are made in another country.
What are examples of import? Tools, clothes, toys, shoes. Goods and services from other countries.
What is export? Goods that are made in our country and shipped to other countries.
What are some examples? 1.Machines/engines,2. Electronic equipment, 3.Oil, 4.Vehicles,5. Aircraft.
What is mercantilism? Creating and maintaining wealth by carefully controlling trade.
What is the Navigational Act? Laws made by Britain that stated the colonies could only trade with Britain.
What is Favorable Balance of Trade? When a country exports more than they import.
What were the economic regions in the New England, Middle, and Southern colonies? In the New England was shipbuilding, fishing, and timber then in the middle Colonies ship ports, and farming (stable crops) and in the southern colonies farming (cash crops).
What is economy? Consumption, Production, Distribution, Goods, and Services.
Were was the use of slavery in the colonies? It was most in the Southern and half in the middle colonies.
What did the slaves do in the colonies? In the Southern colonies they did farming and in the middle colonies they worked on farms and there was no slaves in the New England colonies.
What were Indentured Servants? They were people that came over to the colonies to work on the plantations and in return they had their fare paid.
What are raw materials? Materials before being processed or manufactured into a final form.
What is consumption? It is were you get things into the colonies.
What are examples of stable crops? Wheat barley oats.
What was were cash crops? tobacco.
What were the 3 jobs in the colonies? Farming, making house hold items, and trapping furs.
What is distribution? It is when you make something and send it to another country.
The indentured servants stopped coming because? They knew that they might not live there 4-7 years.
Who has a favorable balance of trade? The british.
How do the navigation acts tie with mercantilism? When you boss another country in buying something they make.
Created by: 18HershbergerJ
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