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Settlement in a new territory that keeps close ties with the mother country

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The idea that a nation’s power is related to its wealth and needs a favorable balance of trade with its colony

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When a colony has more exports (items they sell to other countries) than imports (items they buy from other countries

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Materials such as wood, salt, tobacco, cotton, that occurs in natural and can be trade or made into a product that can be traded.

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A place where goods are offered for seal

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Being owned or in bondage to another person; the practice or system of one person or people

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A system in which individuals buyers abnd sellers interact in the marketplace to exchage (trade)

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Economic system based upon the private ownership of resources and production in order to make a profit

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A syestem in which indevedual buyers and sellers interact in the

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Servants who work for a set period of time to pay off debts or the cost of travailing