Definition
Institutions are organizations or rules that structure economic activity.
Why It Matters
They provide stability, rules, and trust in the economy.
Example
Banks, governments, and legal systems.
Malone Global University
Malone Global University
Economics Glossary – Malone Global University
Institutions are organizations or rules that structure economic activity.
They provide stability, rules, and trust in the economy.
Banks, governments, and legal systems.