Question : What is the primary function of a market in a social institution?
Option 1: To enforce legal regulations
Option 2: To facilitate the exchange of goods and services
Option 3: To provide social welfare programs
Option 4: To conduct religious ceremonies
Answer (1)
22nd Jan, 2024
Correct Answer: To facilitate the exchange of goods and services
Solution : The primary function of a market as a social institution is to facilitate the exchange of goods and services between buyers and sellers.
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