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Sociology Optional PYQ Solutions · Model answer

Write short note: Market economy and its social consequences.

  • UPSC 2007, 1996, 1992
  • Industrialization and Urbanisation in India

A market is not merely a mechanism for clearing prices; it is a social institution that fixes who may transact with whom, on what terms and with what obligation attached. In India its spread has rearranged social structure rather than merely enlarged output.

You are reading the opening of the model answer. The full answer is part of Sociology Optional PYQ Solutions.

What the full answer covers

  • What the market commodifies
  • Status gives way to contract
  • Mobility and inequality arrive together
  • Risk shifts to the household
  • The protective counter-movement
  • Conclusion

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