DOI: 10.36347/sjahss.2014.v02i01.022

Pages: 129-136

The concepts concerning market look initially confusing because the ‘market’ itself is a complicated phenomenon to understand and interpret. Broadly, the studies on ‘market’ are bifurcated under the two broad headings, namely, ‘marketplace’ and ‘market as institution’. Market operates on various other parameters. Market has been very old institution the same has catered to all other institutions in the society. These institutions act as subsystems within the largest system. Family as a basic institution provides all necessary essentials for the market transactions especially ethics, morality and communicational traits. This paper exemplifies the importance of social and cultural dimensions of family in the market transactions from a field based study of shop owners and relatively permanent customers.