Institutions are all of the following except:
A)informal rules that are not government sanctioned.
B)the rules of the game governing economic exchanges.
C)your local phone company.
D)laws governing ownership, antitrust, minimum wage, etc.

Question

Quizplus · Accepted Answer

Your local phone company is a specific organization or business entity, and is not a broad concept like institutions, which refer to the overarching rules and norms that govern economic interactions.

Institutions Are All of the Following Except