New England's Economy

True or False: In a free-market economy, people are free to choose which goods to make or buy and which services to offer or use.

• True

• False

What did farmers do with their surplus goods?

• They saved them as long as they could.

• They sold or traded them for other goods.

• They did nothing.

• They traded them in for a gift card.

In what ways did New England's location and physical setting make farming difficult?

• It had high winds, and very dry summers.

• It had clayish soil, and very high winds.

• It had rocky soil, forests, and long, cold winters.

• It had sandy soil, valley's, and long mild winters.

The trade system of the colonial period created the basis for the kind of economy the United States has today. Shipping goods across the _________ was risky because of storms and pirates.

• Mississippi River

• Hudson River

• Pacific Ocean

• Atlantic Ocean

This industry made up a large part of the colonists' free-market economy.

• Cattle industry

• Sea Food industry

• Lumber industry

• Music industry

Why did colonial carpenters use shaving tools for building?

• The shaving tool helps make the board flat. The board could be used to build a table or other item that requires a flat surface.

• The shaving tool helps make the board round. The board could be used to build a table or other item that requires a round surface.

• The shaving tool helps make the board bumpy. The board could be used to build a table or other item that requires a bumpy surface.

• None of these choices are correct.

Why were ships made in New England less costly than those made in Europe?

• New England had cheap labor.

• New England had abundant forests, this made lumber cheaper.

• New England ships used less lumber.

• New England ship dealers had yearly ship sale

  events on Washington's Day Birthday.

In what ways did the colonists use the forests in New England?

• They used the lumber from the forests to build houses.

• They used the lumber from the forests to build churches.

• They used the lumber from the forests to build ships.

• All of these choices are correct.

Goods leaving a country are called:

• Imports

• Exports

• Seaports

• Newports

Goods brought into a country are called:

• Exports

• Imports

• Seaports

• Newports