1. **State the problem:** Add the fractions $\frac{2}{3}$ and $\frac{1}{4}$. 2. **Formula:** To add fractions, use the formula $\frac{a}{b} + \frac{c}{d} = \frac{ad + bc}{bd}$. 3. **Find common denominator:** The denominators are 3 and 4. The least common denominator (LCD) is $3 \times 4 = 12$. 4. **Rewrite fractions with LCD:** $\frac{2}{3} = \frac{2 \times 4}{3 \times 4} = \frac{8}{12}$ $\frac{1}{4} = \frac{1 \times 3}{4 \times 3} = \frac{3}{12}$ 5. **Add the fractions:** $$\frac{8}{12} + \frac{3}{12} = \frac{8 + 3}{12} = \frac{11}{12}$$ 6. **Simplify if possible:** $\frac{11}{12}$ is already in simplest form because 11 and 12 have no common factors other than 1. **Final answer:** $\frac{11}{12}$