TExES 903 Economics

Competency 004 of the Core Subjects EC–6: Social Studies (903). The competencies TEA lists, how they are tested and practice questions with explanations.

Take a full timed TExES 903 practice test

40 questions on the real 50-minute clock, with a score by competency group and an explanation for every answer.

Or start the free Economics drill

What the TEA framework lists

  • Basic economic concepts, economic systems and free enterprise
  • Supply and demand and economic indicators
  • Government regulation and taxation, and economic links among Texas, the nation and the world

Summarized from the TExES Core Subjects EC–6 (391) preparation manual, Section 3: exam framework, Competency 004. The grouping of competencies into drill sets is ours.

Line drawing of a small fruit market stall with coins, a piggy bank and a shopping basket

How Economics is tested

Expect scarcity and opportunity cost, goods and services, producers and consumers, the features of the free enterprise system and how supply and demand set prices. TEA lists the competencies without weights, so our practice test spreads its questions evenly across them.

Start the free Economics drill

TExES 903 Economics practice questions

Answer each question, then open the explanation.

Question 1

Which tax do Texas school districts levy locally to help pay for public schools?

  1. A.A property tax on homes, land and businesses
  2. B.A state personal income tax paid by Texas residents
  3. C.A local sales tax collected by every school district
  4. D.A tuition fee paid by each student to attend
Show the answer and explanation

Answer: A: A property tax on homes, land and businesses

Texas school districts levy local property taxes, which together with state aid fund public schools. Texas has no state personal income tax, and public schools do not charge tuition to resident students.

Question 2

Which industry has been one of the most important to the Texas economy since the early 1900s, after the Spindletop discovery?

  1. A.Oil and gas
  2. B.Gold mining
  3. C.Fur trading
  4. D.Coffee production
Show the answer and explanation

Answer: A: Oil and gas

The 1901 Spindletop gusher near Beaumont launched the Texas oil boom, and oil and gas have been major parts of the state’s economy ever since.

Question 3

Which is an example of a service?

  1. A.A pair of shoes
  2. B.A loaf of bread
  3. C.A haircut
  4. D.A bicycle
Show the answer and explanation

Answer: C: A haircut

A service is work done for others, such as a haircut. Bread, bicycles and shoes are goods, physical items people can buy.

Question 4

When one country specializes in producing goods it can make efficiently and trades for other goods, both countries can

  1. A.eliminate the need for money.
  2. B.benefit from trade and have more goods overall.
  3. C.stop producing goods entirely.
  4. D.avoid using any natural resources at all.
Show the answer and explanation

Answer: B: benefit from trade and have more goods overall.

Specialization and trade let each country focus on what it produces most efficiently and exchange for other goods, increasing the total goods available.

Take the full test under the real clock

Take a full timed TExES 903 practice test

40 questions on the real 50-minute clock, with a score by competency group and an explanation for every answer.

Or start the free Economics drill

Common questions

How many Economics questions are on the TExES 903?

TEA lists the competencies of the TExES 903 without weights or question counts. Our 40-question practice test spreads its questions evenly across the competencies, which gives Economics 8 questions.

What does Economics cover on the TExES 903?

Basic economic concepts, economic systems and free enterprise; Supply and demand and economic indicators; Government regulation and taxation, and economic links among Texas, the nation and the world.

How should I study Economics for the TExES 903?

Expect scarcity and opportunity cost, goods and services, producers and consumers, the features of the free enterprise system and how supply and demand set prices. TEA lists the competencies without weights, so our practice test spreads its questions evenly across them.

TExES is a trademark of the Texas Education Agency. Original independent practice questions written to the published TExES exam frameworks; not affiliated with or endorsed by the Texas Education Agency or Pearson.