In which of the following ways do formal institutions regulate trade?
A) By inducing uncodified ethical beliefs into society
B) By putting faith in individuals to expose perceived wrong doings
C) By allowing the cultural beliefs of a society to dictate the terms of trade
D) By imposing laws that make certain trades unacceptable
Correct Answer:
Verified
Q23: The main supportive pillars of the informal
Q24: _ are represented by laws,regulations,and rules.
A) Normative institutions
B) Sociocultural
Q25: Islamic law is the only surviving example
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Q27: The cultural school of thought in economic
Q29: A mixed economy has elements of both
Q30: All Western countries practice the absolute laissez-faire
Q31: In the United States,only 1% of the
Q32: Intellectual property rights are enforced though the
Q33: In private ownership,liquidation of a firm is
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