1 / 5

Louisiana’s Economy

Louisiana’s Economy. Resources and Rewards. Louisiana’s Economic History. Section 2 - Vocabulary. What is barter ?. Barter is a way of trading goods and services without the use of money.

salene
Download Presentation

Louisiana’s Economy

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Louisiana’s Economy Resources and Rewards

  2. Louisiana’s Economic History Section 2 - Vocabulary

  3. What is barter? Barter is a way of trading goods and services without the use of money The first economic system in Louisiana was based on barter. Native American would trade goods with each other.

  4. Define mercantilism Mercantilism is when the government of a country controls its resources and its markets to acquire wealth. European settlers in Louisiana developed an economy based on agriculture and commerce. This economy is based on mercantilism, a command economy controlled by the government.

  5. Define smuggling Smuggling is illegal trade Some colonists struggled to survive in this mercantile economy. They began to find other ways to meet their needs. People began to hunt for food, grow their own crops, and make their own goods. They traded these items with neighboring colonies. Because these colonies belonged to different nations it was considered illegal. Trade with these colonies was considered smuggling.

More Related