economic (adjective, ec-o-nom-ic, \ ˌekə'nɑːmɪk◂ \) institutions (noun, in-sti-tu-tions, \ ˌɪnstɪˈtuː ːʃənz \)
Definition: are well-established companies or entire networks of enterprises (including retailers, manufacturers, suppliers, and buyers) that generate, develop, distribute and sell products or services. Additionally, economic institutions include banks, various investment funds, and governmental organizations. This concept may be used to determine the effect a policy change or event has on the overall economy of a country or industry by how and to what degree a specific change affects the economic institutions. Another type of institutions is financial institutions.
In a Sentence:
- A substantial number of economic institutions produces a variety of goods under distinct brands to avoid being recognized as a single large conglomerate.
- Our bank is counted as one of the most profitable economic institutions in the country, and I’m happy to be a part of such an organization.
- As a business owner, you have to maintain a positive reputation in the eyes of all economic institutions you might deal with in the future.
Synonyms and related words: financial institutions, institution, institutionalization, depository institution, lending institution
