Which of the Following Does NOT Define Institutions

question 71

Multiple Choice

Which of the following does NOT define institutions?

• A)"Institutionally devised constraints that structure human interaction."
• B)"Regulatory, normative and cognitive structures and activities that provide stability and meaning to social behavior."
• C) Government of individual and firm behavior.
• D) The "rules of the game."

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Definitions:

Firms

Business organizations or entities engaged in commercial, industrial, or professional activities with the goal of generating profits.

Resource Market

Markets where resources (or factors of production) like labor, capital, and raw materials are bought and sold.

Consumption Expenditures

The total amount spent by consumers on goods and services within a specified period.

Households

Individuals or groups living together who make joint decisions on consumption and resource allocation, forming the basic consuming unit in an economy.