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English definition of “economic institution”

economic institution

noun [C]
 
 
ECONOMICS, GOVERNMENT, FINANCE
a company or an organization that deals with money or with managing the distribution of money, goods, and services in an economy. Banks, government organizations, and investment funds are all economic institutions: Technical assistance will be needed to rebuild essential economic institutions after this upheaval.
→ See also financial institution
(Definition of economic institution from the Cambridge Business English Dictionary © Cambridge University Press)
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