Question

short note on the market as a social institution of class 12 for sociology
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Answer 1

Answer:

As a social institution, the market This is a theory of economics in which the pricing of resources are decided by supply and demand. In practise, practically all countries have certain restrictions on market freedom. Markets, according to sociologists, are culturally specific social structures that are socially 'Embedded,' such as the weekly tribe haat and traditional business community.

Explanation:

A market, in its most basic sense, can relate to specific markets or a physical location, such as a market near a train station. It can also apply to a group of individuals who form a market, comprising buyers and sellers, such as a fruit market, or to a specific type of trade or company, such as a market for vehicles or readymade clothing. A market, in another sense, can refer to the demand for a specific product or service, such as the market for computer specialists.