It is true that_____________?
Correct answer: B. formal organizations are based on groups of people
- A. formal organizations are the same as institution
- B. formal organizations are based on groups of people
- C. institutions are groups of people
- D. institutions are voluntary
Explanation
A formal organization is a deliberately structured group of people with defined roles and rules. An institution is a wider, established pattern of norms or practices, not simply a group and not necessarily voluntary.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Public Finance
Government revenue and expenditure are analysed through taxation, public borrowing, budgets, subsidies, transfers and public debt. The topic explains how fiscal policy affects resource allocation, income distribution, economic stability and growth, while distinguishing direct from indirect taxes, progressive from regressive taxation, and public goods from goods supplied by private markets.
Practise Public Finance
406 free Public Finance MCQs from Economics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Economics questions like this
Economics is on 2 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Public Finance questions
Americans who join voluntary associations are generally ?
According to the labeling theory which of the following concepts explains why a labeled individual becomes deviant ?
Deviance is relative because ____________?
An extreme type of coercive organizations is called a(n) _______________-?
Utilitarian organizations are so named because they ?
A formal structure of an organizations is its_______________?