Use the quote to answer the question.
“Businesses and families are moving to Texas because we provide an environment that
allows people to succeed on their own terms. Texas offers a brand of freedom unlike any
other state in America—we have no state income tax, we've cut…regulations, and we
continue to invest in our young, diverse, and ever-growing workforce. We are committed to
cultivating this thriving economic climate in the years to come to ensure that all Texans
have the ability to achieve their dreams.”
—Texas governor Greg Abbott (March 2022)
Which element of the free enterprise system is most closely associated with Governor
Abbott’s statement?
(1 point)
effects of supply and demand on price stability
limited government involvement in the economy
ensuring global competition maintains consumer protection
increasing profit margins
limited government involvement in the economy
Q. Which statement best identifies how world competition contributes to the interdependence of the Texas economy?
A. Texas led the nation in exports while over half a million Texans are employed by foreign-owned companies.
Q. The concepts of supply and demand illustrate the interdependence of which groups?
A. Consumers and producers
Q. Which statement best explains how profits create interdependence in the free enterprise system?
A. Businesses will produce goods to meet consumer demands when they can make a profit.
Q. Which of the following statements accurately explains how an element of the free enterprise system has impacted the Texas economy?
A. Supply and Demand: After the Civil War, a surplus of cattle and high demand for beef in the North increased prices and led to a boom in the Texas cattle industry.
Q. Use the quote to answer the question. “Businesses and families are moving to Texas because we provide an environment that allows people to succeed on their own terms. Texas offers a brand of freedom unlike any other state in America—we have no state income tax, we've cut…regulations, and we continue to invest in our young, diverse, and ever-growing workforce. We are committed to cultivating this thriving economic climate in the years to come to ensure that all Texans have the ability to achieve their dreams.”—Texas governor Greg Abbott (March 2022)Which element of the free enterprise system is most closely associated with Governor Abbott’s statement?
A. limited government involvement in the economy