ECONOMY BASICS
This term describes all producing, buying, selling, and trading in a country.
ECONOMY
This age began Europe’s search for faster trade routes to Asia.
ERA OF EXPLORATION
What is the process of removing and sending raw materials back to Europe called?
EXTRACTION
Which colonial region had rocky soil and short growing seasons?
NEW ENGLAND
What is the fancy word for workers?
LABOR
This happens when a country produces and sells more goods and services.
ECONOMIC GROWTH
Why did Europeans want a faster route to Asia?
LOWER THE PRICE OF SPICE
What is a settlement set up in a faraway land called?
COLONY
Why were the Middle Colonies called the “Breadbasket Colonies”?
THEY SOLD THE MOST "CEREAL GRAINS"
Why was labor in colonial America in short supply?
LAND WAS SO CHEAP EVERYONE HAD THEIR OWN
This occurs when a country produces and sells fewer goods and services.
ECONOMIC RECESSION
Which explorer tried sailing west to reach Asia?
COLUMBUS
What is the home country that controls a colony called?
MOTHER COUNTRY
What type of farming was common in the Southern Colonies?
COMMERCIAL CASH CROP FARMING
What is the name of the trade system involving Europe, Africa, and the Americas?
TRIANGULAR TRADE SYSTEM
What do we call natural resources used to make products?
RAW MATERIALS
What water passage did explorers hope to find through North America but never did?
NORTHWEST PASSAGE
Why did mother countries want colonies for raw materials?
ENCOURAGE ECONOMIC GROWTH
What economic activities were supported by New England’s natural harbors? (Name two)
TRADING
WHALING
SHIP BUILDING
USED PORTS IN TRIANGULAR TRADE
What was the Middle Passage?
BRUTAL AND INHUMANE BOAT RIDE FROM WEST AFRICA TO THE COLONIES
What do we call goods made from raw materials?
FINISHED GOODS
What geographic feature did Europeans use to claim land in North America?
WATERSHEDS
Which three cash crops were grown in the Southern Colonies?
RICE TOBACCO INDIGO
Based on geography, why were plantations common in the South?
LONG GROWING SEASON
FERTILE SOIL
Why did Britain support the Royal African Company?
The British government recognized the economic value of slavery, so it encouraged the importation of enslaved Africans to the American colonies by granting investors permission to create a new joint-stock company called the Royal African Company, which would make its money by trading in slavery.