The Market as a Social Institution — Sociology STD 12 Humanities — Question
CBSE BoardEnglish MediumSTD 12 HumanitiesSociologyThe Market as a Social Institution2 Marks
Question
How weekly market form a social institution?
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Answer
Weekly markets are one of the main features of social and economic organizations.
These markets bring people together from nearby villages who come to sell their agricultural or other produce and to buy manufactured goods and items which are available in their villages.
It attracts traders from outside the local area.
Weekly markets attract moneylenders, entertainers, astrologers and a host of other specialists offering their services.
These markets link regional and local economies to the wider natural economy and to towns and metropolitan centre.
These markets also play a role to many visitors who come to the market to meet people to arrange marriages and exchange gossip.
In these markets local people come to sell their agricultural or forest produce to traders, who carry it to the towns for resale, and they buy essentials such as salt, agriculture implements, turmeric and consumable items.
In hilly areas the weekly markets are the major institution for the exchange of goods as well as for social interaction.
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