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The Market as a Social Institution — Sociology STD 12 Humanities — Question

CBSE BoardEnglish MediumSTD 12 HumanitiesSociologyThe Market as a Social Institution4 Marks
Question
How does a sociological perspective on periodic markets differ from an economic one?
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Answer

  • Periodic markets are a central feature of social and economic organisation.
  • Villagers sell their agricultural produce and buy many manufactured goods.
  • They attract traders, money lenders, entertainers, astrologers and other specialists.
  • Many visitors come to the market to meet kin, to arrange marriages, to exchange gossip, etc.
  • Major institution for exchange of goods as well as social intercourse.

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