Texas TEKS 7.12.B
The Standard
explain the impact of economic concepts within the free enterprise system such as supply and demand, profit, and world competition on the economy of Texas
Texas Essential Knowledge and Skills for Social Studies
Teacher's field guide
What This Standard Means
What Students Need to Do
- Students explain how changes in supply, demand, costs, and competition affect Texas prices, profits, jobs, and consumer choices. They connect each economic change to a clear result.
What Mastery Looks Like
- Given a Texas business example, students can trace a logical chain from a market change to its effects. They support the explanation with prices, sales data, or a supply and demand graph.
Common Misconceptions
- Students may think high demand always means high supply, or that any price increase raises profit. They may confuse revenue with profit and assume global competition affects businesses but not workers or consumers.
How to Assess It
- Give this exit ticket: A foreign company begins selling cheaper steel in Texas. Predict one effect on Texas steel prices, company profits, and jobs, then explain the chain.
Lesson moves
Ways to Teach It
Use buyer and seller cards in a classroom Texas orange market, then graph how a freeze changes price and quantity.
Write a claim explaining how lower oil demand could affect a Texas producer's profit, jobs, and local spending.
Play four market rounds where teams adjust prices after event cards change supply, demand, costs, or foreign competition.
Compare grocery ads for Texas and imported produce, then identify how price and origin may shape consumer choices.
Keep exploring
Related Standards
- 7.12.A
explain the impact of national and international markets on the production of goods and services in Texas, including agriculture and oil and gas;
- 4.10
Economics. The student understands the characteristics and benefits of the free enterprise system in Texas. The student is expected to:
- 4.11.C
identify the effects of exploration, immigration, migration, and limited resources on the economic development and growth of Texas; and
- 5.11
Economics. The student understands the impact of supply and demand on consumers and producers in a free enterprise system. The student is expected to:
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