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Economists generally define institutions as all of these, EXCEPT as a _______.

Agovernment free of corruption.
Bgovernment that controls resource allocation.
Clegal system that enforces contracts and laws.
Dstrong monetary system.

Verified Answer :

Kalahira

The correct option is C. Institutions, in economics refers to organisation, establishment and foundations that are involved with regulation and management of money, goods and services in an economy. Economic institutions include: banks, governmental organisations, investment funds, etc, Legal system is not part of economic institutions.

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