Discussion
Assertion (A) and Reason (R) pattern :
Assertion (A) : The Price-Indeterminacy promotes a bazar like atmosphere in a prismatic society.
Reason (R) : In a prismatic economy 'arena' as well as 'market' factors coexist simultaneously.
Answer the question using the codes given below :
Answer: A
The answer is both (A) and (R) are true and (R) is the correct reason of (A).
In Fred Riggs's prismatic model, the economy is a bazaar-canteen: prices are not fixed by an impersonal market but vary with who the buyer is, a condition Riggs called price indeterminacy.
The reason it arises is that 'market' factors (supply and demand) operate alongside 'arena' factors (status, kinship and power), so both coexist in setting prices. The reason therefore explains the assertion, ruling out the other options.
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