Final answer:
Tobacco was the most significant cash crop in the early colonial economy of the 16th and 17th centuries, fueling economic growth and settlement in the colonies, as well as contributing to the growth of the Atlantic slave trade.
Step-by-step explanation:
Many historians argue that the most important cash crop in the early colonial economy, specifically in the 16th and 17th centuries, was tobacco. Initially, the North American colonies tried a range of agricultural products, but by the mid-17th century, tobacco had become the dominant cash crop, especially in the southern colonies. It was highly demanded in Europe and brought substantial profits, fuelling economic growth and settlement in the colonies. Tobacco cultivation also played a major role in the establishment and growth of the Atlantic slave trade.
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