Colonial Market Economy Vocab

Front

Workers, often children, who contracted to work for a master for room and board to learn a trade.

Back

apprentices

Front

Experts, artisans, skilled workers, or masters of their crafts

Back

masters

Front

Decisions by buyers and sellers arise from scarcity.

Back

economy

Front

Work performed for others

Back

Services

Front

Buyers and sellers come together to buy and sell.

Back

market

Front

Goods

Back

Produced items (clothing, nails, teapots...)}}]}

Front

Desire for goods or services

Back

demand

Front

A person who makes goods or services to satisfy consumer needs.

Back

producer

Front

People who couldn't afford passage to the colonies and agreed to work for their voyage.

Back

Indentured servant

Front

Colonial market economy

Back

Buyers & sellers in colonial America buying & selling.