ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The colonial economy depended on international trade. American ships carried products such as lumber, tobacco, rice, and dried fish to Britain. In turn, the mother country sent textiles, and manufactured goods back to America.

Detailed explanation-2: -Lumber, wool, iron, cotton, tobacco, rice, and indigo were among the products needed in England. British manufacturers in the meantime needed markets for the goods they produced. The American colonies bought their cloth, furniture, knives, guns, and kitchen utensils from England.

Detailed explanation-3: -Major industry for the colony included Agriculture (fishing, corn, livestock), Manufacturing (lumbering, shipbuilding). Natural Resources: The main natural resource in Massachusetts was timber. The timber from the region provided the raw material for shipbuilding.

Detailed explanation-4: -Free farmers and enslaved people owned by the planting class also engaged in home manufacturing, cutting lumber, tanning leather, spinning yarn, throwing pottery, weaving cloth, and making candles, furniture, and bricks. Many small iron deposits were exploited in the colonial period.

Detailed explanation-5: -Fish was the area’s most valuable export throughout the colonial period, though its primary trade destination shifted over the eighteenth century. By 1768, few of New England’s goods (fish, whale products, livestock, salt meat, and lumber) were headed to Britain; they were instead being sent to the West Indies.