The Virginia Colony #1

What was the main source of wealth for the Virginia colony?

• Beans

• Corn

• Fur

• Tobacco

The economy of Virginia depended on agriculture. What is another word for agriculture?

• farming

• hunting

• fur trading

• shipbuilding

Tobacco was the most profitable agriculture product in colonial Virginia. What is another word for profitable?

• moneymaking

• strong

• unsuccessful

• weak

A crop that is grown to sell for money rather than for use by the growers is called a --

• cash crop

• currency crop

• green crop

• money crop

The tobacco economy expanded or grew because of --

• farmers buying on credit

• indentured servants

• slave labor

• trading with Native Americans

Money is --

• buying a good or service now and paying for it later

• a medium of exchange

• trading goods and services without money.

• when a good or service is owed to someone.

In the Virginia colony, what was commonly used as money?

• bills and coins

• gold

• shells

• tobacco

True or False: Virginia had no banks, so few people had paper money and coins.

• True

• False

Barter is --

• buying a good or service now and paying for it later

• money put away to save or to spend at a later time.

• trading goods and services without money.

• when a good or service is owed to someone.

Credit is --

• buying a good or service now and paying for it later

• money put away to save or to spend at a later time.

• trading goods and services without money.

• when a good or service is owed to someone.