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The Market as a Social Institution
Explain the meaning of commoditisation with the help of examples.
Commoditisation:It was the transformation of non-commodity (viz. things not bought and sold for money in the market).
Examples:(i) Labour or skills become things that can be bought and sold in the market for wage, fee in terms of money.
(ii) Sale of kidneys by the poor to cater to rich patients who need kidney transplants.
(iii) Marriage for fee are arranged by marriage bureau and through websites.
(iv) There are courses conducted on charge hr teaching cultural and Social skills while in earlier times, these were taught in an automatic way and through interaction of children with their parents in family.
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In what ways is a market-such as a weekly market a social institution.
How many caste and kin networks contribute to the success of a business?
In what ways did the Indian economy change after the coming of colonialism?
Explain the meaning of commoditisation with the help of examples.
What is a status symbol?
What are some of the processes included under the label globalisation?
What is meant by liberalisation?
In your opinion will the long term benefits of liberalisation exceed its costs? Give reasons for your answer.
How can you state that markets are nothing else but a kind of social organisation?
What is kinship? Discuss the functions of kinship in Indian society.
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