They both relied on each other for goods and services.
What is colonial community?
- Colonial society in the North America colonies in the 18th century (1700's) was represented by a small wealthy social group having a distinctive cultural and economic organization.
- The members of Colonial society had similar social status, roles, language, dress and norms of behavior.
What did colonies mean?
- A distant territory belonging to or under the control of a nation.
- A group of people sent out by a government to a new territory.
- A group of living things of one kind living together a colony of ants.
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The conference lead to the creation of the Organization of American States (OAS).
The goal of this organization was to solve the economic and political problems of countries in the Western Hemisphere.
This organization consisted of countries such as US, Venezuela, Mexico, Costa Rica, Colombia, and Chile. This organization still exists today and consist of 35 member countries.
GDP that uses constant unchanging prices is called real GDP. Real Gross Domestic Product (real GDP) is a macroeconomic measure of the value of economic output adjusted for price changes. This adjustment transforms the money-value measure, nominal GDP, into an index for quantity of total output.
