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Define and describe the economic thought of new institutional economics (NIE).
Internal Adaptation
The process of adjusting internal procedures, structures, or policies of an organization to better achieve its goals.
Operational Rules
These are specific guidelines or procedures designed to guide the operations of an organization or system effectively.
Official Rules
The set of formal regulations and guidelines that govern a particular activity, organization, or event.
Enforced
Implementation or execution of rules, regulations, or decisions in order to compel obedience or compliance.
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