Economic characteristics of the Colonial Period ← The New England colonies developed an economy based on shipbuilding, fishing, lumbering, small-scale subsistence farming, and eventually, manufacturing. The colonies prospered, reflecting the Puritans’ strong belief in the values of hard work and thrift. ← The middle colonies of New York, New Jersey, Pennsylvania, and Delaware developed economies based on shipbuilding, small-scale farming, and trading. Cities such as New York and Philadelphia began to…
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