Economic differences refer to variations in the economic systems, resources, industries, and trade patterns among different regions or colonies. These differences can lead to conflicts and tensions between regions.
Related terms
Mercantilism: Mercantilism was an economic system practiced by European powers that aimed to maximize exports while minimizing imports through government regulations and control over overseas colonies.
Triangular Trade: Triangular trade refers to the complex network of trade routes between Europe, Africa, and the Americas during the colonial era. It involved the exchange of goods such as slaves, raw materials (sugar, tobacco), manufactured goods (textiles), and rum.
Navigation Acts: The Navigation Acts were a series of British laws that restricted colonial trade with countries other than Britain. They aimed to ensure that most colonial goods were sold only to England in order to benefit British merchants and maintain control over colonial economies.