Institutions Do Which of the Following

question 11

Multiple Choice

Institutions do which of the following?

• A)Reduce uncertainty.
• B)Signal which conduct is acceptable and which is not.
• C) Reduce opportunism and transaction costs.
• D) All of the above.

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Definitions:

Mental Representation

An internal image or representation of external reality, phenomena, or conceptual information, which forms the basis of cognition.

Proposition

A statement or assertion that expresses a judgment or opinion, in philosophy and logic, it's also seen as the meaning or content behind declarative sentences.

Analogical

Pertaining to analogy; the process of finding correspondences or logical relations between seemingly dissimilar things.

Directed Thinking

Thought that is focused, goal-oriented, and follows logical steps towards a specific conclusion.