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

CBSE BoardEnglish MediumSTD 12 HumanitiesSociologyThe Market as a Social Institution2 Marks
Question
What is 'Status symbol'?
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Answer

  • The goods people buy and use are closely related to their status in society. Max Weber coined the term Status symbol to describe this relationship.
  • Marker of socio-economic status.
  • Examples- Brand of cell phone, model of car, area of residence, clubs, means of entertainment, etc.

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