Colonial economies refer to the economic systems and activities within the colonies during the time of European colonization. These economies were often characterized by agriculture, trade, and the extraction of resources.
Related terms
Triangular Trade: Triangular trade was a system of trade between Europe, Africa, and the Americas during colonial times. It involved the exchange of goods such as slaves, raw materials, and manufactured products.
Cash Crops: Cash crops are agricultural products grown primarily for sale rather than personal consumption. Examples include tobacco, cotton, and indigo.
Mercantilism: Mercantilism was an economic theory that promoted state control of trade for national power and wealth. It emphasized exports over imports and accumulation of precious metals.