VS.4d Economics in Colonial Virginia

Colonial Virginia did not have banks and paper and coin money was rare.  What did many colonists use as money?

• beads
• fur
• tobacco
• corn

What is a good or service owed to another?

• credit
• cash crop
• debt
• money

What is a crop that is grown to sell for money rather than for use by the growers?

• credit
• cash crop
• debt
• money

What is it called when someone buys a good or service now and pays for it later?

• credit
• cash crop
• debt
• money

What is the term for currency, which includes coins and paper bills?

• credit
• cash crop
• debt
• money

Virginia's primary source of wealth came from ______________.

• shipbuilding
• masonry
• agriculture
• industry

What was often used as a form of currency in colonial Virginia?

• Corn
• Animal skins
• Tobacco
• Credit cards

What is it called when you trade one item you own with another item owned by someone else (WITHOUT the use of money)

• Currency
• Barter
• Savings
• Debt

Money put away to save or spend later is called ____________.

• debt
• money
• credit
• savings

Colonial Virginia had _______ banks.

• no
• few
• many
• 15