The term refers to the various economic systems and arrangements that were established in the American colonies during the colonial period. These structures encompassed factors such as trade, labor, agriculture, and mercantilism.
Related terms
Mercantilism: This term refers to an economic theory prevalent during colonial times where colonies existed primarily for the benefit of their mother country's economy.
Triangular Trade: Triangular trade was a system of trade between Europe, Africa, and the Americas during colonial times that involved the exchange of goods such as slaves, raw materials, and manufactured goods.
Cash Crops: Cash crops are agricultural products grown specifically for sale rather than personal consumption. Examples include tobacco in Virginia or rice in South Carolina.