What defines the ―rules of the game‖ that structure economic incentives?

Question

Quizplus · Accepted Answer

Institutions, such as government regulations, cultural norms, and social beliefs, create the rules of the game that dictate economic incentives. These institutions can shape the behavior of individuals and organizations, affect market outcomes, and determine how resources are allocated. Economic laws, property rights, and open markets can all be important components of these institutional frameworks, but they do not define the rules of the game on their own.

What Defines the ―Rules of the Game‖ That Structure Economic