In what ways is a market – such as a weekly village market – a social institution?

Weekly or periodic market is a social organisation in following manners –

a) In weekly markets people from surrounding villages come to sell their agricultural and other produce and to buy the goods and other items which are not available in their villages.

b) These markets attract traders from outside local limits as well as money lenders, entertainers, astrologers and various other service renderers.

c) In rural India some specialised markets also organised at frequent intervals like cattle market. These periodic markets not only link different regional and local economies but also link them to the wider national economy and to other towns and Metropolitan centres.

d) The weekly haat is quite common in rural as well as urban areas in India and especially in those areas which are relatively less developed. These weekly markets are major institution for exchange of goods.

e) Some people come to periodic market not only for exchange of goods and services but also to meet their near ones, to arrange marriages, gossip and so on.