Final answer:
The Texas economy has historically been dominated by agriculture and the oil and gas industries. These sectors have been fundamental to the state's economic development, with oil and gas achieving prominence in the 20th century. Over time, the economy has diversified, including significant growth in technology and high-tech manufacturing sectors.
Step-by-step explanation:
The Texas economy has evolved significantly over time. Historically, the economy was dominated by agriculture, with large-scale farming of cotton, cattle, and other commodities providing the backbone of Texas's economic output. As the 20th century progressed, however, oil and gas industries surged to prominence, especially following major oil discoveries in Texas, such as the Spindletop field in 1901.
With the establishment of the Lyndon B. Johnson Space Center in Houston, space and high-tech industries began to play a crucial role in the state's economy. In addition, the growth of industries such as manufacturing, biotechnology, telecom, and retail has diversified the economy further. Nonetheless, oil and gas continue to be influential sectors, contributing significantly to the state's GDP and employment.
Over time, technology and high-tech manufacturing also established a strong foothold in Texas, indicative of a broader shift in the United States toward services and information-based sectors, aligning with the tertiary and quaternary economic sectors.
Overall, while the Texas economy has diversified, its historical dominance was chiefly characterized by agriculture and oil and gas industries.