NCERT Class 12 Sociology Part 1 Chapter 4, The Market as a Social Institution, explores how markets are not just about buying and selling goods, but also about social relationships, cultural influences, and historical changes. The chapter explains different types of markets in India—from traditional weekly haats and rural fairs to modern malls and online platforms. It looks at how caste, gender, and community networks influence trade, and how globalisation has reshaped our buying and selling habits.
I am writing about this topic because markets affect every person’s life, whether we live in a small village or a big city. Understanding markets from a sociological point of view helps us see how they connect with people’s identity, power, and opportunities. For example, a weekly bazaar in a rural area is not just a place for buying vegetables, but also a meeting point for social exchange. This chapter is important because it makes students think beyond economics and understand the cultural and social role of markets. By sharing the official NCERT PDF, I want to help students access a reliable resource that will make their exam preparation stronger and their understanding more practical.
Main Topics Covered in Chapter 4: The Market as a Social Institution
- Types of Markets – Local haats, periodic markets, formal retail, and online markets
- Traditional Indian Trading Systems – Caste-based occupations and community-specific trade
- Colonial Impact on Indian Markets – How British policies changed rural and urban markets
- Globalisation and Liberalisation – Entry of supermarkets, shopping malls, and e-commerce
- Social Factors in Market Participation – Gender roles, caste networks, and community trust
- Case Studies – Examples of fisherfolk markets, handicraft bazaars, and corporate retail chains
Real-World Examples
- In Goa, fisherwomen markets are run almost entirely by women, showing gender-specific market traditions
- Online platforms like Flipkart and Amazon changing buying habits in small towns
- Tribal haats in Madhya Pradesh acting as both market and festival grounds
- Handloom clusters in Varanasi and Kanchipuram sustaining community-based trade
Download NCERT Class 12 Sociology Chapter 4 PDF
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NCERT Class 12 Sociology Part 1 Chapter 4: The Market as a Social Institution
