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A basic way that society meets people's needs.

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Katelin Hancock

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3y ago
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1d ago

The economy is considered a social institution because it is shaped by societal norms, values, and relationships within a given community. It involves the production, distribution, and consumption of goods and services, which are influenced by social factors such as culture, politics, and institutions. The economy plays a critical role in organizing and influencing human behavior and interactions within society.

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Q: Why is the economy considered a social institution?
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Continue Learning about Sociology

Which is considered the most violent social institution?

Sports are considered the most violent social institution.


What social institution is widely considered to have the greatest effect on society as a whole?

The government is widely considered to have the greatest effect on society as a whole because it establishes laws, provides public services, and manages institutions that impact various aspects of people's lives. Its policies and decisions can influence economy, education, healthcare, and more, shaping the overall well-being of a society.


Which is the most basic institution in any society?

The family is often considered the most basic institution in any society. It is where individuals first learn social norms, values, and behaviors that shape their interactions with others and their place in the larger society.


Which of these questions is not a social institution?

The question "What time is it?" is not a social institution. Social institutions are established patterns of social behavior that have a purpose in society, such as family, education, and religion. Asking for the time is a simple inquiry and not an organized system of practices and beliefs.


Details about the 5 major social institutions?

The five major social institutions are family, government, economy, education, and religion. These institutions play key roles in structuring and organizing society by shaping our identities, beliefs, and behaviors. Each institution serves different functions, such as providing socialization (family), maintaining order (government), facilitating economic transactions (economy), imparting knowledge and skills (education), and guiding spiritual beliefs (religion).

Related questions

The economy is considered a social institution because it is?

a basic way that society meets peoples needs


Which is considered the most violent social institution?

Sports are considered the most violent social institution.


What social institution is widely considered to have the greatest effect on society as a whole?

The government is widely considered to have the greatest effect on society as a whole because it establishes laws, provides public services, and manages institutions that impact various aspects of people's lives. Its policies and decisions can influence economy, education, healthcare, and more, shaping the overall well-being of a society.


Family as a social institution?

Family is definitely a social institution. Family is considered a social institution because there are many people who interact with each other in one place.


Why is family considered the basic social institution?

Socially speaking, there is nothing less basic.


Why is financial institution considered as the life of your economy?

because with out the power of finance we can't run the business or shall we say economy can't run with out money with out finance.


Why is the family considered as the basic social institution?

The family is the basic social institution because a child is usually born into the group. If no family exists, a child is likely to suffer greatly or die, not being able to survive.


What is Definition of Social institution?

institution means to establish customs


What are the impact of financial institution on an economy?

dog


Which is not a social institution?

culture


What is the central social institution in social justice?

family


What are the 4 main types of social institution in Nigeria?

social institution includes religion,family,politics, and economic.