Question

answer the following questions briefly. 1)what are institution?​

Answer 1

Explanation:

An institution is a social structure in which people cooperate and which influences the behavior of people and the way they live. An institution has a purpose. Institutions are permanent, which means that they do not end when one person is gone. An institution has rules and can enforce rules of human behavior.

Answer 2

A commonly accepted definition of institutions is that they are the formal and informal rules that organise social, political and economic relations (North, 1990). They are the systems of 'established and prevalent social rules that structure social interactions' (Hodgson, 2006, p. 2).

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