Texas and the Free Enterprise System Quick Check%0D%0A4 of 54 of 5 Items%0D%0A%0D%0AQuestion%0D%0AWhich of the following statements accurately explains how an element of the free enterprise system has impacted the Texas economy?(1 point)%0D%0AResponses%0D%0A%0D%0ASupply 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.%0D%0ASupply 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.%0D%0A%0D%0AProfit Margin: Boom-and-bust cycles have impacted all industries in Texas except the oil and gas industry, which has consistently made profits due to high demand since the Spindletop oil strike in 1901.%0D%0AProfit Margin: Boom-and-bust cycles have impacted all industries in Texas except the oil and gas industry, which has consistently made profits due to high demand since the Spindletop oil strike in 1901.%0D%0A%0D%0ALimited Government: When railroads created a monopoly and charged farmers unreasonable shipping rates, the Texas government created the Railroad Commission to regulate the industry and ensure fair rates.%0D%0ALimited Government: When railroads created a monopoly and charged farmers unreasonable shipping rates, the Texas government created the Railroad Commission to regulate the industry and ensure fair rates.%0D%0A%0D%0AGlobal Competition: Economic profits in Texas decreased significantly after the North American Free Trade Agreement gave Mexico an unfair advantage over Texas businesses near the border.%0D%0AGlobal Competition: Economic profits in Texas decreased significantly after the North American Free Trade Agreement gave Mexico an unfair advantage over Texas businesses near the border.
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.
