 Institution - a society or organization founded for a religious, educational, social, or

similar purpose.

Want - have a desire to possess or do (something); wish for.

 Need - A need is something that is necessary for an organism to live a healthy life. Needs are
distinguished from wants. In the case of a need, a deficiency causes a clear adverse outcome: a
dysfunction or death. In other words, a need is something required for a safe, stable and healthy
life (e.g. air, water, food, land, shelter).
 Social contract - is a theory or model that originated during the Age of
Enlightenment and usually concerns the legitimacy of the authority of the state over
the individual.
 Legitimacy - In political science, legitimacy is the right and acceptance of an authority,
usually a governing law or a régime.
 Macro economics - the part of economics concerned with large-scale or general
economic factors, such as interest rates and national productivity.
 Micro economics - Microeconomics is a branch of economics that studies the behaviour
of individuals and firms in making decisions regarding the allocation of scarce resources and the
interactions among these individuals and firms.
 Free market economy - In economics, a free market is a system in which
the prices for goods and services are self-regulated by the open market and by consumers. In a
free market, the laws and forces of supply and demand are free from any intervention by
a government or other authority and from all forms of economic privilege, monopolies and
artificial scarcities.[