Daily Life in the Colonies Vocabulary

To barter means.....

• To sell products for money.
• To donate items to charity.
• To exchange goods or services directly.
• To borrow goods with interest.

What is an export?

• An export is a product or service sold to another country.
• A type of tax imposed on imports.
• A service that is only available domestically.
• A product that is given away for free.

What is an import?

• A type of tax imposed on foreign goods.
• A service provided by local businesses.
• A method of exporting goods to other countries.
• An import is a good or service brought into a country from abroad.

What are raw materials?

• Raw materials are resources that can be made into other products.

• Raw materials are the services provided to customers.
• Raw materials are the final goods sold to consumers.
• Raw materials are finished products ready for sale.

What is mercantilism?

• Mercantilism is a strategy for reducing trade barriers and promoting free trade.
• Mercantilism is an economic theory that discourages government intervention in markets.
• Mercantilism is an economic idea that believes countries benefit from trade when they export more than they import

• Mercantilism is a form of socialism that promotes wealth redistribution.

What is an artisan?

• A factory worker who operates machinery.
• An individual who manages a business.
• A skilled craftsperson who creates handmade goods.
• A person who sells mass-produced items.

What were the 3 classes in colonial life?

• Nobility, Peasants, Artisans
• Upper Class, Working Class, Servants
• Merchants, Farmers, Slaves
• Gentry, Middle Class, Lower Class