What Played An Important Role In The Colonies Economic Development?

The growth of economy played a decisive role on the development of American colonies. By setting up the material foundation of the outgrowth of the colonies …

How did colonial rule lead to economic development?

Chapter 6 considers how far colonial rule (and the actions of European companies that it facilitated) reinforced the emergence of a comparative advantage in land-extensive primary exports and looks at the consequences of this for the welfare of the population.

What kind of economy did the colonies have?

After over a hundred years’ of development, three main type of economy were formed in the colonies, as manufacturing in the north, agriculture in the middle and plantations in the south.

Why was New England important to the colonies?

Owing to farming difficulty, New England turned to develop a thriving shipbuilding industry. The shipbuilding cost in New England was 30%- 40% lower than that of Europe. By 1860s, one-third of the merchant ships of the Britain and three forth of the vessels of American colonies were built in New England.

How did geography affect the development of the colonies?

A short growing season prevented the planting of most crops. A lack of fertile soil limited agriculture. Colonial governments bought all the crops that plantations could produce. A warm climate permitted the growth of labor-intensive cash crops. How did geography influence the early economic development of New York, Boston, and Charleston?

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