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:

Competitive Market

A market structure characterized by a large number of buyers and sellers, free entry and exit, and products that are similar in nature, leading to competitive prices.

Economic Policies

Actions taken by a government to influence its economy, including fiscal policy, monetary policy, and trade policy.

Inefficient Rationing

A situation where goods or services are distributed or allocated in a way that does not maximize utility or welfare, often due to non-market forces such as regulations.

Policymakers

Individuals or groups responsible for making decisions and laws that affect a country's economy, society, and overall governance.