The market is not just a place where goods and services are exchanged for money. It is a social institution that has significance much beyond its economic function. In this response, we will discuss the various ways in which the market is a social institution.

Facilitates Social Interaction

The market serves as a meeting place for people from various backgrounds and cultures. It provides an opportunity for social interaction and exchange of ideas. People interact with each other, learn about different cultures and lifestyles, and build social networks.

Promotes Social Mobility

The market also promotes social mobility by providing opportunities for individuals to improve their economic status. It allows people to sell their goods and services and earn money, which can help them improve their standard of living. This, in turn, can lead to social mobility as people can move up the economic ladder.

Reflects Social Values

The market reflects the social values of a society. The goods and services that are sold in the market reflect the needs and desires of the people. It also reflects the cultural values of the society. For example, in India, the market is full of stalls selling traditional clothes, food, and handicrafts that reflect the rich cultural heritage of the country.

Influences Social Behavior

The market also influences social behavior. It can encourage competition, cooperation, and collaboration among people. It can also promote fairness and honesty in business dealings. At the same time, it can also lead to unethical practices such as price gouging and exploitation of workers.

Conclusion

In conclusion, the market is not just a place for economic exchange. It is a social institution that has a significant impact on society. It facilitates social interaction, promotes social mobility, reflects social values, and influences social behavior. Therefore, it is important to understand the social dimensions of the market to ensure that it serves the best interests of society.

Given by anthropologist Alfred Gell the centre portion is occupied by the non-tribals,
• Rich dikus selling semi precious stones to tribals but non-middle class, Second level¬middles class, Periphery tribals and lower castes.
Even the interaction between tribals and non-tribals traders are different:
• Tribals and non tribals purely business their position in society is different so they have nothing in common except the market.