Economics (ppt)



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E1 Economic Understandings PPT

Colonial Choices

  • The behavior and choices of people in colonial times were affected by price incentives, too!
  • What would make them the most money?
  • That extra money was an incentive for colonists to grow, make, or build more!

Specialization in the New England Colonial Region

  • People in New England specialized in:
    • fishing
    • lumber
    • shipbuilding
  • New England had harbors that made it a shipping trade center.

Specialization in the Mid-Atlantic Colonial Region

  • The Mid-Atlantic colonies had rich farmland.
  • Farmers produced large harvests of:
    • wheat
    • rye
    • corn
  • They also raised livestock.
  • They worked with iron (blacksmith)

Specialization in the Southern Colonial Region

  • Agriculture was king in the South.
  • There were small farms and big plantations.
  • It was profitable to grow:
    • tobacco
    • indigo
    • rice
    • cotton
  • Slave labor was used to plant and harvest crops.

Productivity during the late 18th and early 19th centuries

  • Technology Rocks!
    • Talented Americans developed new inventions that changed our lives!
  • There were many technological advancements!
  • A few important examples include:

Spinning machines & Sewing machines

  • Spinning machines made cloth very quickly.
  • Sewing machines could make clothes quickly.

Cotton Gin

  • Eli Whitney’s cotton gin was a simple machine that separated seeds from the cotton fibers.
  • It increased the production of cotton tremendously.
  • Cotton became the most important crop in the South.
  • More slaves were needed to work in the cotton fields.
  • .

Telegraph

  • Samuel Morse’s telegraph was the first method of long-distance communication.
  • Americans and businesses could finally communicate over long distances!

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