Institutions a. are the set of laws, customs and mores that affect and influence the...
Institutions
a. are the set of laws, customs and mores that affect and influence the costs and benefits of decisions.
b. never change.
c. are only determined through conscious efforts of many, many people.
d. are only created by government.
Homework Answers
Institutions are formal and informal rules that organize social, political and economic relations. They are social rules that determine social interactions. They persist over time and change incrementally, but are determined through conscious efforts of the people.
Ans. (C)
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Institutions
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