TEKS: Chapter 118. Economics See All Teacher Resources

118.4.c.8

(8) Economics. The student understands the circular-flow model of the economy. The student is expected to:

• (A) interpret the roles of resource owners and firms in a circular-flow model of the economy and provide real-world examples to illustrate elements of the model;
• (B) explain how government actions affect the circular-flow model; and
• (C) explain how the circular-flow model is affected by the rest of the world.