HS.SS.4.B | Texas Essential Knowledge and Skills (TEKS)

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current exampleshistoric examplesfree enterprise systemsocialismcommunismbasic characteristicseconomic systems

contrast (current and historic examples of economic systems) #dok2
identify (basic characteristics of economic systems) #dok1
analyze (historical and contemporary cases using economic system characteristics) #dok3
describe (examples of free enterprise, socialism, and communism) #dok2

I can identify basic characteristics of economic systems such as property rights, incentives, economic freedom, competition, and the role of government. #dok1
I can describe examples of free enterprise, socialism, and communism from the past and present. #dok2
I can contrast current and historic examples of free enterprise, socialism, and communism using their basic characteristics. #dok2
I can analyze how different societies display the characteristics of economic systems throughout history and today. #dok3

Economic systems can be better understood by examining their foundational characteristics and how these are expressed in real-world examples—both historic and contemporary.
Comparing the core features of free enterprise, socialism, and communism reveals how societies have organized economies differently to address similar needs.

What are the defining characteristics of free enterprise, socialism, and communism?
How do examples of these economic systems from history compare to those that exist today?
Why do societies adopt different economic systems, and how do these systems reflect their values and goals?
How can analyzing basic economic characteristics help us distinguish between free enterprise, socialism, and communism?
In what ways have economic systems changed over time, and what factors have influenced these changes?