chapters 3 & 4 Flashcards
balance of trade
difference in value between imports and exports
mercantilism
economic theory that a country should acquire as much buillon as possible by exporting more goods than it imports
salutary neglect
Great Britain’s policy in the early 1700s of not interfering in the American colonies’ politics and economy as long as such neglect served British economic interests
staple crop
A crop that is in constant demand such as cotton, wheat, or rice
triangular trade
trade between the Americas, Europe, and Africa
gentry
in colonial America, men and women wealthy enough to hire others to work for them
apprentice
person placed under a legal contract to work for another person in exchange for learning a trade
self-sufficient
having the necessary resources to get along without outside help
migration
movement of people for the purpose of settling in a new place
itinerant
traveling from place to place, or on a circuit
dissent
difference of opinion or belief
Albany plan of union
1754 proposal by Benjamin Franklin for the creation of a grand Council of representatives from Britain’s American colonies
prime Minister
highest official in a parliamentary government
siege
tactic in which an enemy is surrounded and starved in order to make it surrender
treaty of Paris 1763
treaty that ended the French and Indian war and in which France gave up it’s land claims in North America to Britain