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Understanding Colonial Economy in Early America

Explore the economic dynamics of early American colonies including debt, barter, savings, and the impact of trade laws. Learn about the financial struggles and the role of money in the colonial era.

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Understanding Colonial Economy in Early America

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  1. Chapter 6 Vocabulary Review

  2. Credit • A buyer’s promise to pay over time for things he or she buys.

  3. debt • Money, goods, services that are owed to other people.

  4. Enslaved • To be held captive by another person and forced to work for them.

  5. Old Dominion • A name King Charles II gave to Virginia because many of its colonists supported his return to the English throne.

  6. William Berkeley • Governor of Virginia who was blamed for enforcing British trade laws that hurt Virginia tobacco farmers.

  7. Savings • money set aside to be spent later

  8. Money • something used as an exchange for buying and selling; money includes paper cash, checks, and coins of gold, silver, copper, or other metals.

  9. barter • To trade goods or services for other goods or services.

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