D.I.S.S.

:Sherwin Lumatao

What is main use of Institutions?

-Institutions are "stable, valued, recurring patterns of behavior," according to Samuel P. Huntington.
Institutions can refer to mechanisms that govern the behavior of a group of people within a given
community and are associated with a social purpose, transcending individuals and intentions by
mediating the rules that govern living behavior. Saying that an institution is a type of behavior, according
to Geoffrey M. Hodgson, is deceptive. Institutions, on the other hand, are defined by Hodgson as
"integrated systems of rules that structure social interactions."

Who created Institutions?

- James Smithson

What could happen if there are no institutions?

-Without social institutions, society would perish. As the saying goes, "the human being is a social
animal." Our lives are clearly interdependent on one another. We rely on one another to meet our
needs. We do require a social platform to address our issues and express our ideas. If social institutions
are not present, there will be less interaction between people, and the range of ideas will be limited,
limiting the extent of development. "We can survive without social institutions, but we can't live our
lives".

Do you believe that institutions evolve over time?

-Of course. It's pretty silly, all things considered, because without evolution chances are we wouldn't be
here. The particular reason for this circumstance is if institutions wouldn’t evolve it will not adopt to
newer generation.

Which of the two do you believe has more impact? Formal or Informal Institutions? Explain it the best
way you can. You need to use actual examples and situations.

-I believe formal institution has more impact. the impact of formal institutional differences Formal
institutional differences reflects the codified and explicit national variations in, for example,
employment regulations, intellectual property regimes, business systems, rules and regulations,
financial market operations, and fiscal and economic stability