Question

Institutional unit?

Answer 1

An institutional unit refers to an economic entity that is capable of owning assets and incurring liabilities, as well as engaging in economic activities and transactions with other units. Institutional units are the main building blocks of the national economy and can be classified into different categories, such as households, corporations, government agencies, and non-profit organizations. These units are distinct and separate from each other, and their economic interactions are recorded and analyzed in the national accounts and economic statistics.