Economic institutions refer to the norms, regulations, and laws that establish the "rules of the game" in an economy, conditioning and modifying the behavior of individuals and groups so that their actions become more predictable to others. They are responsible for organizing the production, exchange, distribution, and consumption of goods and services. When economists use the term "economic institutions," they are referring to property rights, honest government, political stability, a dependable legal system, and competitive and open markets. These institutions create the right environment to allocate scarce resources and are crucial factors for economic growth. Economic institutions can be specific agencies or foundations, both government and private, devoted to collecting or studying economic data, or commissioned with the job of supplying a good or service that is important to the economy of a country. Examples of economic institutions include banks, government organizations, and investment funds.