The economy of colonial America was shaped by shortages of land and

Question

Quizplus · Accepted Answer

The economy of colonial America was largely agricultural, and land was a key resource for farming. The scarcity of available land posed challenges for farmers, including limitations on crop production and a lack of opportunity for expansion. This scarcity also affected other aspects of the colonial economy, such as the availability of labor and access to capital. While credit, industry, and occasional government spending were all factors in the colonial economy, land scarcity was a driving force that impacted all aspects of economic activity.

The Economy of Colonial America Was Shaped by Shortages of Land