Business Terms and Jargon Explained

What is Institutional Unit

These are individual units whose data are aggregated to form the sectors of the economy. An institutional unit has decision-making autonomy in respect of its principal function and either keeps a complete set of accounts or is in a position to compile, if required, a complete set of accounts meaningful from both an economic and legal viewpoint.

Crown Copyright. Material taken from National Statistics website: Reproduced under the terms and conditions of the Click-Use Licence.

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Term created / updated 2007-01-19 15:15:35

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