796 B
796 B
Tobacco Colonies
Definition
Plantations in North America, particularly Virginia and Maryland, that produce tobacco for export to European markets. Tobacco cultivation represents a specialized form of agriculture that can command high rents due to the value of the crop and the limited suitable land.
Source Chapter
Book I, Chapter 11
Context
Smith discusses tobacco colonies as another example of specialized agricultural production that can command rents exceeding those of ordinary agricultural land, though typically not as high as sugar colonies due to greater competition and more widely available suitable land.
Economic Domain
Production