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Home Questions M6KM4Y6Q52
Target Exam

CUET

Subject

Sociology

Chapter

Indian Society: Market as a social Institution

Question:

Match List - I with List - II.

List – I

Market Related Concepts

List – II

Characteristics/Egs

(A) Free Market

(I) Commodification

(B) Capitalism

(II) 'Haat'

(C) Weekly Market

(III) Virtual market

(D) NASDAQ

(IV) 'Laissez-faire'

Choose the correct answer from the options given below:

Options:

(A)-(I), (B)-(II), (C)-(III), (D)-(IV)

(A)-(II), (B)-(IV), (C)-(III), (D)-(I)

(A)-(II), (B)-(III), (C)-(IV), (D)-(I)

(A)-(IV), (B)-(I), (C)-(II), (D)-(III)

Correct Answer:

(A)-(IV), (B)-(I), (C)-(II), (D)-(III)

Explanation:

The correct answer is Option (4) → (A)-(IV), (B)-(I), (C)-(II), (D)-(III)

Here's why each element matches:

* **(A) Free Market (IV) Laissez-faire:** Laissez-faire refers to a minimal government intervention in the economy, which is a key characteristic of a free market.
* **(B) Capitalism (I) Commodification:** Capitalism is an economic system where goods, services, and even labor are treated as commodities to be bought and sold. Commodification reflects this aspect.
* **(C) Weekly Market (II) 'Haat':** Haat refers to a traditional marketplace held on specific days of the week in rural areas of India. This is a concrete example of a weekly market.
* **(D) NASDAQ (III) Virtual market:** NASDAQ is an electronic stock exchange, a prominent example of a virtual market where trading happens online.

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