North American Colonial Economies

Definition

North American colonial economies were the economic systems established in the British colonies in North America. These economies relied heavily on agriculture (such as tobacco, rice, and indigo) and trade.

Related terms

Cash Crops: These were crops grown primarily for profit rather than for personal use. Examples include tobacco in Virginia and rice in South Carolina.

Subsistence Farming: This is farming done primarily to provide food for oneself or one's family rather than for sale or profit.

Colonial Trade: This refers to the exchange of goods and resources between the British colonies in North America and other countries, such as England and the West Indies.