TEKS: Chapter 113. Social Studies See All Teacher Resources

113.18.b.9

(9) Economics. The student understands the various ways in which people organize economic systems. The student is expected to:

• (A) compare ways in which various societies organize the production and distribution of goods and services;
• (B) compare and contrast free enterprise, socialist, and communist economies in various contemporary societies, including the benefits of the U.S. free enterprise system;
• (C) understand the importance of morality and ethics in maintaining a functional free enterprise system; and
• (D) examine the record of collective, non-free market economic systems in contemporary world societies.