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Chapters
2: The Demographic Structure of the Indian Society
3: Social Institutions: Continuity and Change
▶ 4: The Market as a Social Institution
5: Patterns of Social Inequality and Exclus
6: The Challenges of Cultural Diversity
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Solutions for Chapter 4: The Market as a Social Institution
Below listed, you can find solutions for Chapter 4 of CBSE NCERT for Sociology Indian Society [English] Class 12.
NCERT solutions for Sociology Indian Society [English] Class 12 4 The Market as a Social Institution ACTIVITY [Pages 60 - 62]
Visit a market or shopping area in the town or city where you live. Find out who the important traders are. To which community do they belong? Are there particular areas of business that are controlled by particular communities, for instance, jewellery shops, kirana (provisions) shops, the hardware trade, furniture-making shops, and so on? Visit some of these shops and find out about the traders who run them and their communities. Are they hereditary family businesses?
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Commoditisation or commodification – these are big words that sound very complicated. But the process they refer to is a familiar one, and it is present in our everyday life. Here is a common example – bottled water. In cities and towns, and even in most villages now, it is possible to buy water packed in sealed plastic bottles of 2 litres, 1 litre, or smaller capacity. These bottles are marketed by a wide variety of companies, and there are innumerable brand names. But this is a new phenomenon, not more than ten or fifteen years old. It is possible that you yourself may remember a time when bottled water was not around. Ask older people. Your parents’ generation will certainly remember the initial feeling of novelty when bottled water became widely available. In your grandparents’ generation, it was unthinkable that anyone could sell drinking water, charge money for it. But today we take bottled water for granted as a normal, convenient thing, a commodity that we can buy (or sell). This is commoditisation/commodification – the process by which something which was not a commodity is made into a commodity and becomes part of the market economy. |
Can you think of other examples of things that have been commodified relatively recently? Remember, a commodity need not only be a thing or object; it can also be a service. Try also to think of things that are not commodities today but could become commodities in the future. What are the reasons why this could happen? Finally, try to think of things that were commodities in the past but have stopped being commodities today (i.e., they used to have market or exchange value before but do not have it now). When and why do commodities stop being commodities?
Make a collection of advertisements from newspapers and magazines. From the collection, choose two or three that you find interesting. For each of these advertisements, try to answer the following questions.
- What is the product that is being advertised, and what image has been created of that product?
- How has the advertiser tried to relate this product to a desirable lifestyle or social status?
NCERT solutions for Sociology Indian Society [English] Class 12 4 The Market as a Social Institution Exercise [Page 68]
What is meant by the phrase ‘invisible hand’?
How does a sociological perspective on markets differ from an economic one?
In what ways is a market – such as a weekly village market – a social institution?
How do 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.
Solutions for 4: The Market as a Social Institution
NCERT solutions for Sociology Indian Society [English] Class 12 chapter 4 - The Market as a Social Institution
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Concepts covered in Sociology Indian Society [English] Class 12 chapter 4 The Market as a Social Institution are Introduction to the Market as a Social Institution, Sociological Perspectives on Markets and the Economy, Understanding Capitalism as a Social System, Globalisation – Interlinking of Local, Regional, National and International Markets, Overview of Market as a Social Institution.
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