Question

what do economists mean when they say institutions matter

Answer 1

Explanation:

When they say that institutions matter, economists mean that political and economic institutions in a country affect the state of the economy such as determining scarcity or demand. ... Institutions also depict the reality of life, hence guiding economic decisions.

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Answer 2

Answer:

When they say that institutions matter, economists mean that political and economic institutions in a country affect the state of the economy such as determining scarcity or demand. Institutions also depict the reality of life, hence guiding economic decisions.

Explanation:

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