What Is the Primary Difference Between an Informal and a Formal-Legal

question 11

Multiple Choice

What is the primary difference between an informal and a formal-legal institution of government?

• A) An informal institution is unable to co-ordinate participation in the political process, whereas formal-legal institutions are more organized.
• B) An informal institution is not established in the constitution, whereas formal-legal institutions are.
• C) An informal institution is part of the political culture, whereas formal-legal institutions are not.
• D) An informal institution is responsible for formalizing laws and policies in a society, whereas formal-legal institutions implement and enforce the policies.

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Definitions:

Allocate Money Income

The process of distributing financial resources among different uses to satisfy various needs and desires.

Elasticity

A measure in economics that shows how the quantity demanded or supplied of a good changes in response to price or other economic factors.

Marginal Utility

The additional satisfaction or benefit (utility) that a consumer gains from consuming one more unit of a good or service.

Consumer Behavior

Consumer behavior examines the decision-making processes and actions of individuals or groups in purchasing and using goods and services.