VS.4d Economics in Colonial Va

Colonial Virginia did not have banks and paper and coin money was rare. Most colonists used ________ as money?

• beads

• fur

• tobacco

• corn

A good or service owed to another is a _____.

• credit

• cash crop

• debt

• money

A crop that is grown to sell for money rather than for use by the growers is known as a ____ ____.

• credit

• cash crop

• debt

• money

When someone buys a good or service now and pays for it later, it is called ______.

• credit

• cash crop

• debt

• money

A term for currency, which includes coins and paper bills is _____.

• credit

• cash crop

• debt

• money

Colonial Virginia's primary source of wealth came from ______________.

• shipbuilding

• masonry

• agriculture

• industry

_________ was often used as a form of currency in colonial Virginia.

• Corn

• Animal skins

• Tobacco

• Credit cards

When a person trades one item they own with another item owned by someone else, it is known as ______.

• 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