TEKS 113.31(d)(4)(A)
explain the basic characteristics of economic systems, including property rights, incentives, economic freedom, competition, and the role of government;
Source: Texas Administrative Code §113.31 (Chapter 113) · Adopted 2022
Knowledge & Skills 113.31(d)(4)
Economics
The student understands free enterprise, socialist, and communist economic systems. The student is expected to:
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Other expectations under 113.31(d)(4)
- TEKS 113.31(d)(4)(B) contrast current and historic examples of the free enterprise system, socialism, and communism using the basic characteristics of economic systems; and
- TEKS 113.31(d)(4)(C) analyze the contributions of various economic philosophers, including Friedrich Hayek, Milton Friedman, John Maynard Keynes, and Adam Smith, and their impact on the U.S. free enter…