In Which of the Following Ways Do Formal Institutions Regulate

question 36

Multiple Choice

In which of the following ways do formal institutions regulate trade? 

• A) By inducing uncodified ethical beliefs into society 
• B) By putting faith in individuals to expose perceived wrong doings 
• C) By allowing the cultural beliefs of a society to dictate the terms of trade 
• D) By imposing laws that make certain trades unacceptable

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Definitions:

Self-reported

Information provided directly by individuals about themselves without external verification.

Personal Happiness

An individual's overall subjective feeling of well-being and satisfaction with life.

Decades

Periods of ten years.

Subjective Well-being

An individual's self-assessment of their overall happiness and life satisfaction.