Question

1. why is the economy a social institution?

Explanation:

The economy involves social - organized production, distribution, and consumption of goods and services. It is shaped by social norms, values, and relationships. It also affects social structures, power dynamics, and the well - being of society as a whole.

Answer:

The economy is a social institution because it is a socially organized system for the production, distribution, and consumption of goods and services, influenced by and influencing social norms, values, and structures.