Colonial Economy Ms. Baquedano.

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Presentation transcript:

Colonial Economy Ms. Baquedano

Do Now (Left hand side) pg. 1 How do you describe what an economy is? 3 Sentences

Vocabulary Colony: an area occupied by settlers from another country with the goal of political control Mercantilism: colonies exist for the benefit of the mother country Natural resources: materials that occur in nature that can be used for economic gain [Also called raw materials] Cash Crop: crop produced for monetary value rather than for use by the grower.

Why colonize? In the 1600’s, Britain was the world’s biggest power To maintain power, they need money For money, Need natural resources For natural resources, like cash crops need a place to plant them Things to consider: climate, size, distance

Triangle trade Definition: A system of trade in which a country pays For its imports from one country by exporting to another country In other words… if want a good, you trade for it with the goods you have This system used with Britain, West Africa, The West Indies, and the Colonies. Traded slaves, sugar, rum, textiles, rubber…etc

Right hand side Pg 2

Right Hand Side Pg. 2