NCERT Solutions Class 12 Sociology The Market as a Social Institution

NCERT Solutions Class 12 Sociology The Market as a Social Institution. The NCERT solutions for Class 12 Sociology book have been made by Sociology teacher of one of the best CBSE school in India. Sociology in class 12 is an important subject for Class 12 Humanities students. Its easy to learn and can help to get good marks. These NCERT solutions have been made to give detailed answers and explanations which can be easily understood by the students. You can download the NCERT solutions for free in pdf format. Refer to other links also to download Class 12 Sociology NCERT solutions, worksheets, sample papers and test papers.

1.What is meant by the phrase ‘invisible hand’?

Answer. According to Adam Smith, every person looks for his own self-interest and in pursuit of this in-tum works for the self-interest of all .In this sense, there seems to be an unseen force at work that converts what is good for each individual into what is good for the society. This unseen force was called the “invisible hand’

2. How does a sociological perspective on markets differ from an economic one?

Answer. Adam Smith and other thinkers developed the ideas of modem economics. It is based on the idea that the economy can be studied as a separate part of society that operates according to its own laws, leaving out the larger social or political context in which market functions. On the other hand, sociologists have tried to develop an alternative way of studying economic institutions and processes within the larger social frameworks. In this way, ; sociologists consider markets as social institution which are made in culturally specific ways. Sociologists maintain that economies are socially ‘embedded’.

3. In what ways is a market—such as a weekly village market—a social institution?

Answer. Though markets are places of economic interaction, since they are based on a particular social context and social environment, we can also regard them as social institutions where a specific kind of social interaction take place. Periodic markets (or weekly markets) are a central feature of social and economic organization. They give a chance to surrounding villages to interact with each other while they sell their goods. In villages, in tribal areas apart from regular markets, specialised markets are also organized where specific products are sold such as in the fair of Pushkar in Rajasthan. Thus, traders from outside come and also moneylenders, entertainers, astrologers and other specialists offering their services and product. Therefore, these periodic markets just do not fulfil local needs, they link the villages with regional economies and sometimes national economies. Thus in tribal areas they help in maintaining interconnections, which makes these markets a social institution.

4. How do caste and kin networks contribute to the success of a business?

Answer. In the precolonial period on wards, India had an extensive trading connection, not only within the country but also outside.These trading connections were made by merchant groups who did extensive internal and

Please click the link below to download NCERT Solutions Class 12 Sociology The Market as a Social Institution.



Click to View or Download pdf file
Click for more Sociology Study Material

Latest NCERT & CBSE News

Read the latest news and announcements from NCERT and CBSE below. Important updates relating to your studies which will help you to keep yourself updated with latest happenings in school level education. Keep yourself updated with all latest news and also read articles from teachers which will help you to improve your studies, increase motivation level and promote faster learning

Board Cancelled Official CBSE Statement

Keeping in view the requests received from various State Governments and the changed circumstances as on date, following has been decided- 1. Examinations for classes X and XII which were scheduled from 1st July to 15th, 2020 stand cancelled. 2. Assessment of the...

CBSE Online Training for Teachers 2020

It is clear that this pandemic has utterly disrupted an education system that many assert was already losing its relevance. Enhancing professional development digitally is a need in the times of COVID-19, where social distancing and remote interactions is the new...

Art Integrated Project work for classes 1 to 10

CBSE Board has decided to introduce Art-Integrated Project work for classes I to X to promote Art-Integrated Learning in schools to make teaching learning Competency-Based and joyful. As part of this, at least one Art-Integrated Project in each subject shall be taken...

Class 10 Datesheet announced

CBSE has announced the date sheet for the remaining class 10 Board Exams, see dates below

CBSE advisory on student marks

CBSE has issued a public advisory for all students to be careful from unscrupulous persons impersonating themselves as officers/officials of CBSE. These people have been contacting parents and have been telling them that they have access to student marks data for Board...

CBSE Reduced Syllabus Class 9 and 10

The prevailing health emergency in the country and at different parts of the world as well as the efforts to contain the spread of Covid-19 pandemic has resulted in loss of class room teaching due to closure of schools. Therefore the CBSE Board has decided to revise...

Studies Today