Answer:
The colonial economy had market economy characteristics in many ways:
1. The first colonies were founded by private commercial companies like the Virginia company, with the previous authorization of the English Monarch.
2. The colonies soon developed a market economy, both in the North and in the South. They were largely free of government interference.
3. in the Virginia Colony, tobacco leaves were for a while, the commodity money of the area.
4. Market economy applied even to unacceptable things like slavery: African slaves were bought and sold in a slave market like property.
5. Northern colonies developed small scale industry and trade, and this helped many towns boom.
6. Southern colonies developed large plantation economy based on slave labor.
7. The colonies engaged in fruitfuil trade with the British Empire.
