Question

All EXCEPT which of the following are economic institutions, as defined in the activities?

a. corporations
b. labor unions
c. elementary schools
d. nonprofit organizations

Answer 1

The correct answer is c. elementary schools. Economic institutions are organizations that play a role in the production, distribution, and consumption of goods and services. Elementary schools are not typically considered economic institutions because their primary focus is on education.

Step-by-step explanation:

The answer is c. elementary schools.

Economic institutions are organizations or entities that play a role in the production, distribution, and consumption of goods and services within an economy. While corporations, labor unions, and nonprofit organizations are economic institutions because they impact the economy, elementary schools are not typically considered economic institutions because their primary purpose is to provide education rather than engage in economic activities.

For example, corporations are economic institutions because they produce and sell goods or services, labor unions influence wages and working conditions in the labor market, and nonprofit organizations provide goods and services to fulfill societal needs. However, elementary schools are primarily focused on providing education to students rather than engaging in economic activities.

Answer 2

All except the elementary schools among the following are economic institutions, as defined in the activities. The correct option among all the options that are given in the question is the third option or option "c". Elementary school cannot be an economic institution, as it is a place for imparting education.