Question

Explain the meaning of ‘commoditisation’ with the help of examples.

Answer 1

Commoditisation occurs when things that were earlier not traded in the market become commodities.

For example:-

1. Labour or skills have become things that can be bought and sold.
2. Sale of human organs, such as kidneys by poor to cater to rich patients to early money.
3. Traditionally, marriages were arranged by families but now professional marriage bureaus and websites help people to find brides and grooms and take a proper fee. Earlier rituals and ceremonies were planned out by elders in the family but now it is given as a contract to marriage planners to plan out the entire ceremony.
4. In earlier times, people could not have even thought that anyone could sell drinking water or charge money for it. But today, we buy bottled water as a normal commodity i.e. a commodity we can buy and sell.