Amir, like most people in his community, makes weekly trips to the village square, where local vendors sell their goods. Everyone in the area is familiar with what will be available to purchase and how transactions are to be conducted. Although the exchanges between buyers and sellers may seem frenetic to outsiders, the locals adhere to a set of regulations and norms that satisfies the needs of all involved. This scenario conforms to the sociological definition of which term?

Question

Quizplus · Accepted Answer

The scenario describes a market, which is a social institution where buyers and sellers exchange goods and services according to established rules and regulations. The regular trips to the village square and the familiarity with the available goods and transaction norms suggest that this is a regular and organized market.

Amir, Like Most People in His Community, Makes Weekly Trips