TEKS: Chapter 113. Social Studies See All Teacher Resources

113.18.b.8

(8) Economics. The student understands the factors of production in a society's economy. The student is expected to:

• (A) describe ways in which the factors of production (natural resources, labor, capital, and entrepreneurs) influence the economies of various contemporary societies;
• (B) identify problems and issues that may arise when one or more of the factors of production is in relatively short supply; and
• (C) explain the impact of relative scarcity of resources on international trade and economic interdependence among and within societies.