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Colonial Economy - Coggle Diagram
Colonial Economy
Nature of Economy
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Tobacco key in southern economy, exports increasing from £14m to £100m between 1670s and 1770s
Middle colonies exported wheat and flour to other colonies, West Indies and Europe
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Goods included rum, beaver hats, iron, spinning/weaving
British involvement
Large market for colonial goods such as tar and pine wood in Britain whereas a large market for manufactured British goods in colonies; stimulated trade
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Britain not a large enough market for colonies, who also sought illegal trade with French
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