Economics

The student understands the basic economic activities of early societies in Texas and North America. The student is expected to:

Explain the economic activities various early American Indian groups in Texas and North America used to meet their needs and wants such as farming, trading, and hunting;

Explain the economic activities early immigrants to Texas used to meet their needs and wants.

The student understands the characteristics and benefits of the free enterprise system in Texas. The student is expected to:

Describe the development of the free enterprise system in Texas;

Describe how the free enterprise system works, including supply and demand;

Give examples of the benefits of the free enterprise system such as choice and opportunity.

The student understands patterns of work and economic activities in Texas. The student is expected to:

Explain how people in different regions of Texas earn their living, past and present, through a subsistence economy and providing goods and services;

Explain how geographic factors such as climate, transportation, and natural resources have influenced the location of economic activities in Texas;

Analyze the effects of exploration, immigration, migration, and limited resources on the economic development and growth of Texas;

Describe the impact of mass production, specialization, and division of labor on the economic growth of Texas;

Explain how developments in transportation and communication have influenced economic activities in Texas;

Explain the impact of American ideas about progress and equality of opportunity on the economic development and growth of Texas.

The student understands how Texas, the United States, and other parts of the world are economically interdependent. The student is expected to:

Identify ways in which technological changes in areas such as transportation and communication have resulted in increased interdependence among Texas, the United States, and the world;

Identify oil and gas, agricultural, and technological products of Texas that are purchased to meet needs in the United States and around the world;

Explain how Texans meet some of their needs through the purchase of products from the United States and the rest of the world.