TEKS: Chapter 118. Economics See All Teacher Resources

118.4.c.6

(6) Economics. The student understands the basic characteristics and benefits of a free enterprise system. The student is expected to:

• (A) explain the basic characteristics of the U.S. free enterprise system, including private property, incentives, economic freedom, competition, and the limited role of government;
• (B) explain the benefits of the U.S. free enterprise system, including individual freedom of consumers and producers, variety of goods, responsive prices, investment opportunities, and the creation of wealth;
• (C) analyze recent changes in the basic characteristics of the U.S. economy; and
• (D) analyze the costs and benefits of U.S. economic policies related to the economic goals of economic growth, stability, full employment, freedom, security, equity (equal opportunity versus equal outcome), and efficiency.