Markets are social institutions connected to other aspects of the social structure. Which two aspects does the chapter on the market as a social institution name as examples of this connection?
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → Caste and class
Option (1) Gender and age — Incorrect. Gender and age do shape social life. In the discussion of markets, though, the examples of linked social structure are caste and class only.
Option (2) Region and language — Incorrect. Region and language mark social groups too. They are left out of the examples of how markets link to the social structure.
Option (3) Religion and ethnicity — Incorrect. Religion and ethnicity are also parts of social identity. They are left out of the pair of examples for this connection.
Option (4) Caste and class — Correct. Markets are connected to caste and class in various ways. Trade in India was often run by caste-based business communities, and a person's place in the market shapes their class.
NCERT (2026-27): “Debate on Liberalisation – Market Versus State … |