Which of the following statement is not applicable for peasant societies?

market ensures social equality

The correct answer is Option (1) → market ensures social equality

While many aspects of peasant societies involve some form of market interaction, the statement "market ensures social equality" is not generally applicable to these societies. Here's why the other statements hold some truth:

• Markets link regional and local economies: Peasant societies often engage in trade, exchanging agricultural products and other goods with neighboring regions or local markets, connecting them to wider economic networks.
• Trading on cash crops: In addition to subsistence farming for their own consumption, peasants may cultivate cash crops like cotton, tobacco, or spices to generate income through market exchange.
• Periodic markets: Many peasant societies have established periodic markets, held on specific days, where farmers and other producers can sell their goods and buy necessities, fostering local trade and exchange.