The term institution commonly applies to both informal institutions such as customs or behavior pattern important to a society, and to particular formal institutions created by entities such as the government and public services.
Alaska Gold. July 24, 2012 // 53:44. The Bristol Bay region of southwest Alaska is home to the last great wild sockeye salmon fishery in the world. Itâs also home to enormous mineral deposits â copper, gold, molybdenum â estimated to be worth up to $500 billion.
The Gold Rush of the 1890s has been overshadowed by the Alaska oil rush of the 1970s. Oil had been discovered earlier on the Kenai Peninsula south of Anchorage, but the discovery in 1968 and development of vast oil deposits on the North Slope, bordering the Beaufort Sea, transformed the young state in many ways.