TEKS 113.31(d)(6), Social Studies (Economics)
Subject: Economics – High School
TEKS 113.31(d)(6)
Summary of TEKS 113.31(d)(6)
TEKS 113.31(d)(6) explains the importance of private property rights and how they impact individuals and businesses. It highlights the benefits of owning property, such as control and income opportunities, and the responsibilities, like maintenance and taxes. It also explores how government regulations limit property use to protect public safety and the environment.
Key Concepts of TEKS 113.31(d)(6)
- Benefits of Property Ownership: Freedom to use, potential income, and investment growth.
- Costs of Property Ownership: Maintenance, taxes, and possible depreciation.
- Government Restrictions: Rules like zoning laws, health codes, and environmental regulations ensure safety and fairness.
Section 1: Costs and Benefits of Owning Property
TEKS 113.31(d)(6)(A)
Explanation: Owning property, whether personal (like a car) or business-related (like a store), comes with both advantages and responsibilities.
Benefits of Owning Property
- Control: You decide how to use your property.
- Example: If you own a car, you can drive it wherever you want.
- Investment Opportunity: Property like homes or land often increases in value over time.
- Example: A house you buy for $200,000 today might be worth $300,000 in ten years.
- Earning Potential: You can use property to generate income, such as renting out a house.
Costs of Owning Property
- Maintenance and Repairs: Property requires upkeep to retain its value.
- Example: If you own a car, you must pay for oil changes and repairs.
- Taxes: Property owners must pay taxes to the government.
- Example: Homeowners pay property taxes every year based on their home’s value.
- Depreciation: Some property loses value over time, like older cars or outdated electronics.
Key Idea: Owning property gives you freedom and potential income, but it also comes with responsibilities and costs.
Section 2: Government Restrictions on Property Use
TEKS 113.31(d)(6)(B)
Explanation: The government can place restrictions on how individuals and businesses use their property to protect the public, the environment, or the community.
Examples of Restrictions on Personal Property
- Zoning Laws: These laws control how land can be used.
- Example: You can’t build a factory in a residential neighborhood.
- Environmental Regulations: These rules protect natural resources.
- Example: You may need a permit to cut down trees on your land if they are part of a protected forest.
Examples of Restrictions on Business Property
- Health and Safety Rules: Businesses must follow regulations to ensure public safety.
- Example: Restaurants must pass health inspections to operate.
- Building Codes: These ensure that buildings are safe and meet certain standards.
- Example: A store must have fire exits and wheelchair ramps.
Why Restrictions Exist
- Protect public safety and health.
- Preserve the environment.
- Prevent unfair use of property that could harm others.
Key Idea: Government restrictions balance individual rights with the needs of the community.