USA National Standards for Concept "Economic Institution"
National Standard Number: 10
Institutions evolve in market economies to help individuals and groups accomplish their goals. Banks, labor unions, corporations, legal systems, and not-for-profit organizations are examples of important institutions that is essential to a market economy.
Online lessons on US Standard 10 from the National Council on Economic Education Website.
National Standard Number: 17
Costs of government policies sometimes exceed benefits because of incentives facing voters, government officials, and government employees, actions by special interest groups, or persuing social goals other than economic efficiency.
Online lessons on US Standard 17 from the National Council on Economic Education Website.
