Econ
_______ means there is not enough of something for all the people who want it
Scarcity
Someone who buys goods or services is called a
Consumer
Which colony allowed and encouraged people from all countries and religious faiths to come live there? It was also a colony that treated Native Americans fairly.
Pennsylvania
The economies of the colonial regions differed because they had different:
Resources
Why were the Quakers mistreated in England?
The practiced a different religion from most English people
The best thing you give up in order to get something else
opportunity cost
is how much of something is available.
supply
Which of the following primary source documents is an example of self-government in the middle colonies?
The frame of Government of Pennsylvania
Plantations specialized in producing __________
Cash crops
Why was Georgia founded?
to help poor people avoid being put in jail for their debts
How much consumers want of something
Demand
is anyone who makes or grows a good or performs a service.
producer
Where did most enslaved Africans work in the southern colonies?
on plantations
Someone who agreed to work for an employer for a set period of time in order to pay off a debt was called
an indentured servant
Which colonial region had rich soil for raising wheat, available minerals, cold winters, and hot summers?
Middle
goods made in another country and sold in the US
Imports
is the process of focusing time, energy, resources, or study on one particular area, skill, or function rather than trying to do everything
Specialization
What was the Toleration Act that was passed in Maryland in 1649?
It gave religious freedom to all Christians
Massachusetts Bay was founded to protect _________
puritans
Which colonial region had rocky soil, plentiful forests, and easy access to the sea?
New England
is a person who comes up with a product or service, or a better way to produce one.
Entrepreneur
is when people depend on one another to get a job done or make a product.
Interdependence
Boston Was located in the colony of __________
Massachusetts
Why was Rhode Island founded?
for religious freedom
Which colonial region had tobacco and rice that grew on large plantations?
Southern