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The Impact of Supply and Demand on Prices in Southern Agricultural Economy

This overview examines how supply and demand dynamics influenced prices in the Southern economy during the 1600s. The economy, heavily reliant on cash crops like tobacco, rice, and indigo, relied on indentured servants and later enslaved Africans for labor. Wealthy landowners, known as the gentry, formed the planter elite and held political power. Conflicts such as Bacon’s Rebellion highlighted social tensions, especially between backcountry farmers and Native Americans. As slavery expanded and became codified in laws, social and economic structures evolved, reshaping the region's agricultural landscape.

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The Impact of Supply and Demand on Prices in Southern Agricultural Economy

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  1. How does supply and demand affect prices? Bellringer for 9/26/2007

  2. Southern Economy • Economy based on commercial agriculture • Cash crop • Tobacco • Rice and indigo • Plantations • 1600s-indentured servants provided labor • 1680s-increase in enslaved Africans

  3. Southern Society • Wealthy landowners-gentry • Planter elite • Involved in politics • Backcountry farmers-yeomen • Former indentured servants • Lived inland from waterways • Practiced subsistence farming

  4. Bacon’s Rebellion • Conflict over land • Backcountry farmers v. Native Americans • Nathaniel Bacon • Raised army to attack Native Americans • Resulted in increased use of slaves

  5. Slavery in the Colonies • Middle Passage • Voyage across Atlantic • 1619-Africans treated like indentured servants • Freedom obtained by converting to Christianity • As numbers increased, slavery became codified • 1705-VA created a slave code • Set of laws regulating slavery and social relationships

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