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AND WELL DETAILED
UPDATE!!!!2025/2026
_____ refers to a legal system based on religious teachings. - ANSWER Theocratic law
The main supportive pillars of the informal institutions are _____. - ANSWER normative and cognitive
Which of the following is true of the civil law system? - ANSWER It is the most widely distributed legal system around the world.
State ownership differs from private ownership in that in state ownership _____. - ANSWER protecting jobs and minimizing social unrest is the objective of a firm
Which of the following is true of private ownership? - ANSWER Firms are established by entrepreneurs, owners, and investors.
Which of the following is a proposition of the institution-based view? - ANSWER When formal constraints are unclear, informal constraints will play a larger role in reducing uncertainty and providing constancy to managers and firms.
_____ are represented by laws, regulations, and rules. - ANSWER Formal institutions
The key role of institutions is to _____ in business transactions. - ANSWER reduce uncertainty
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