ECONOMICS
ECONOMIC INSTITUTIONS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Banks
|
|
|
Credit union
|
|
|
Insurance Companies
|
|
|
Court
|
Detailed explanation-1: -Let us see what the basic institutions of the market economy are. We may subdivide them for convenience of discussion into (1) private property, (2) free markets, (3) competition, (4) division and combination of labor, and (5) social cooperation.
Detailed explanation-2: -When economists use this term, they mean: property rights, honest government, political stability, dependable legal system, and competitive and open markets.
Detailed explanation-3: -This chapter explores the role of three global economic institutions (GEIs) in contemporary economic governance: the International Monetary Fund (IMF), the World Bank and the World Trade Organization (WTO).
Detailed explanation-4: -government organizations, banks, and. investment funds.