ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Guns and Butter
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Sugar and Molasses
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Furs and Lumber
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Fish and Tobacco
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Detailed explanation-1: -The enslaved cargo was then brought to the West Indies and sold to sugarcane plantations to harvest the sugar for molasses. Molasses was then brought from the West Indies to the colonies and sold to rum producers.
Detailed explanation-2: -In the mid-eighteenth century the island colonies of Bermuda, Barbados, Jamaica, and the four Leeward Islands were the British Empire’s most valuable possessions because of the demand for sugar and its by-products, molasses and rum.
Detailed explanation-3: -The English colonies in North America sent fish and lumber to the West Indies in exchange for enslaved people and sugar.
Detailed explanation-4: -The West Indies stimulated prosperity on the North American mainland where farmers produced lumber, fish, livestock, and grain to supply the sugar plantations. With the production of sugar, the West Indies overtook the Chesapeake as the most valuable set of English colonies.
Detailed explanation-5: -In addition to sugar, all these islands exported the by-product of sugar production: molasses. Over time, northern continental colonies had developed an economy dependent on plentiful and inexpensive molasses; it was there distilled into rum, an export necessary to obtain specie for further trade.