Class 12 Sociology Chapter 4 – The Market as Social Institution MCQ Question and Answers – MCQs for Practice

1. What is NASDAQ?

2. Indian market became liberal in which year?

3. _______ occurs when things that were earlier not traded in the market becomes commodities

4. Who authored the book, ‘The wealth of nations’

5. Pre colonial Indian economy was

6. A market that is free from all kinds of regulations whether by a state or otherwise is known as

7. Which of the following categories does the Indian economy belong to?

8. What is jajmani system?

9. To which field does Alfred Gell belong?

10. The term ‘status symbol’ was coined by

11. ______ is a process by which something which was not a commodity is made a commodity and becomes part of the market

12. Which of the following theories was given by Karl Marx

13. Marvaris are

14. Which of the following is a working class caste in India?

15. what does Dhorai symbolize?

16. Max webber is

17. The use of market or market based processes rather than government regulations or policies to solve social, economic and political problems is known as

18. Which of the following is a central feature of globalisation?

19. what is Dhorai?

20. The unseen force at work that converts what is good for individual into what is good for society, a term coined by Adam Smith is