Colonial Market Economy Vocab

Workers, mostly children, who signed a contract agreeing to work for a master for room and board to learn a trade

• slaves
• masters
• apprentices
• indentured servants

Experts, artisans, skilled workers, trades workers, or masters of their crafts

• housewife
• masters
• producer
• indentured servant

buyers and sellers make decisions because of scarcity

• market

• goods

• economy

• services

work performed for others

• demand
• goods
• services
• producer

when buyers and sellers come together to buy and sell

• market
• economy
• trade workers
• Publix

goods

• market

• desire for goods and services

• work performed for others

• something that is produced (clothing, nails, teapots...)

desire for goods or services

• master
• demand
• service
• goods

a person who makes goods or services to satisfy the wants and needs of consumers

• buyer
• seller
• worker
• producer

people who did not have enough money for their passage to the colonies and signed a contract agreeing to work for the people who paid for their voyage

• indentured servant
• producer
• master
• apprentice

Colonial market economy?

• When buyers & sellers come together together in colonial America to buy & sell
• When people cam over on the Mayflower
• Wants and needs of consumers in Europe
• master trades workers who work in Virginia