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In: Economics

Please define briefly the concepts of personal and impersonal exchange and the relation to and usefulness...

Please define briefly the concepts of personal and impersonal exchange and the relation to and usefulness in discussing economic development. Then, indicate on the line below where the emphasis of (1) democratic institutions and (2) stock market institutions are, writing the numbers (1) and (2) on the line.

Personal Exchange < ------------------------------------> Impersonal Exchange

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Expert Solution

Rahul Sunny answered 2 years ago
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