The Market as a Social Institution

The Market as a Social Institution

Question

 In what ways is a market-such as a weekly market a social institution.

Answer

Weekly market as a social institution.

(i) These bring together people from surrounding villages and also attract traders from outside the local area.

(ii) These link local tribal economy to that of outside and establish economic relationships between tribal people and others.

(iii) The layout of the market symbolises, the hierarchical inter-group social relations.

(iv) Market system in weekly haats or markets acts as social hierarchy. Eg. The wealthy and high ranking Rajput jewellers and middle-ranking local Hindu traders sit in the central zones while the tribal sellers of vegetable and local wares sit in the outer circles. Refer to adivasi village market in Bastar (Chattisgarh).

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