Discuss the importance of Economic Institution in Society
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Among other things, economic institutions have decisive influence on investments in physical and human capital, technology, and industrial production. It is also well-understood that in addition to having a critical role in economic growth, economic institutions are also important for resource distribution.
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Explanation:
☆Economic institutions provide the opportunities to the people to earn their livelihood, through which people satisfy their basic needs. the other institutions like family, politics, education,etc. Without economic institutions these institutions cannot perform rather collapse.☆
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