How Markets Shape Texas Business

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.

Part of The student understands the interdependence of the Texas economy with the United States and the world

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Intro

How Texas Prices Get Made

By the end of this lesson, you will explain how supply and demand, profit, and world competition shape the Texas economy. Texas uses a free enterprise system, where people mostly choose their own jobs, businesses, and purchases, and prices come from countless decisions made by buyers and sellers, not one boss.

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Texas Markets Near and Far39 of 73Texas Industries and World Markets