The 'market arena' in institutional arenas refers to the arena for paid labor, economic exchange, and wealth accumulation.
The best example of the 'market arena' in the institutional arenas according to Cohen is:
- The arena for paid labor, economic exchange, and wealth accumulation.
This refers to the space where individuals participate in labor markets, engage in economic transactions, and accumulate wealth through various exchange processes.
This exemplifies the concept of market exchange as a key social institution that plays a crucial role in society's distribution of goods and services.
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