MARKET AS A SOCIAL INSTITUTION
Fill in the blanks
1 'Culture' has become a commodity in the growing 'global' market for-------- tourism.
2 A market which is free from all kinds of regulation whether by state or otherwise is known as------------.
3 The increasing extension and integration of markets around the world is a central feature of --------------------.
4 Liberalisation has worked as a disadvantage for farmers who have lost the benefit of-------------- and------------from the government.
5 India has experienced 'indigenous' capitalism through the economic activities of ---------a business community of Tamil Nadu.
6 The weekly markets are periodic markets. (State True or False).
7 Laissez faire policy was introduced by Amartya Sen.
8 Unorgainzed sector offers security and economic benefits to its employees.
9 Jajmani system is an example fo non-market exchange system of pre-colonial era. (State True or False).
10 The traditional trading communities included only the 'Vaishyas' (state true or false).
Choose the correct answer
11 Consumption patterns express----- of the individual/group.
a. Commodification b. Life style c. unity d. company
12 Status symbol is a concept proposed by--------
a. Emile Durkheim b. Karl Marx
c. Max Weber. d. Auguste Comte
13 The weekly market system of the Dhorai symbolises.
a. Social hierarchy b. Position in the caste
c. Social distance d. all the above
14 Adam Smith studied the market economy and put forth his views in the book-----
a. Wealth of Nation b. Nation & Wealth
c. Wealthy Nations d. None of the above
15 The era when India became 'more fully linked' to the World market was---
a. Post Vedic b. Pre-Colonial c. Colonial d. Post-colonial
Answer the following
16 What according to Adam Smith is the ‘Invisible Hand’?
17 What does the economic philosophy of ‘Laissez –Fare’ denote?
18 What is a ‘Tribal Haat’?
19 What is a ‘Hundi’?
20 What is a ‘Virtual Market’?
21 Define the term ‘Marketisation.
22 What is meant by ‘Status Symbol’?
23 How does the Sociological perspective of Markets differ from an Economic one?
24 In what ways is Market – such as a Weekly Village Market – a social institution?
25 How do Caste & Kinship networks contribute to the success of a Business?
26 What are some of the processes included under the label of Globalization?
27 In what ways Indian economy change after the coming of the British?
How did the advent of colonialism in India produce a major upheaval in the economy?
28 Explain the meaning of ‘Commoditization or Commodification’ with the help of examples.
29 What is meant by Liberalization? In your opinion, will long term benefits of liberalisation exceed the costs? Give reasons for your answer.
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