Which of the following is a true statement about the economy of the British colonies?
Small farms and commerce dominated New England, while the production of staple crops was the backbone of the Middle and Southern colonies.
The fur trade was the basis for the New England economy until the Beaver Wars, when cereal crops replaced furs as the predominant trade product
The Middle colonies had the least diverse economy, with their focus on plantation agriculture of staple crops such as tobacco and sugar
Small farms and manufactured items formed the basis of the Southern colonies until the discovery of the slave trade and indenture.