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Political Institutions and Development Economics Quiz

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Political Institutions and Development Economics Quiz

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Questions and Answers

What are political institutions?

The rules and policies for fair environment in business

Systems of laws and regulations for business and trade

Shared practices, values, and social norms influencing economic behaviors

Governing bodies and frameworks driving economic growth (correct)

What are legal institutions?

Shared practices, values, and social norms influencing economic behaviors

Governing bodies and frameworks driving economic growth

The rules and policies for fair environment in business

Systems of laws and regulations for business and trade (correct)

Study Notes

Political Institutions

Political institutions are organizations or systems that help to govern a country or state
Examples include governments, political parties, and electoral systems
These institutions shape the exercise of power and influence in a society

Legal Institutions

Legal institutions are organizations or systems that provide a framework for administering justice and resolving disputes
Examples include courts, police departments, and laws
These institutions help to maintain social order and protect individual rights

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Description

Test your knowledge on the governing bodies, legal systems, and cultural influences that shape economic growth and development in the field of development economics.