What is commodification?

Commodification refers to the process of transforming goods, services, ideas, or practices into commodities, which are items that can be bought, sold, and traded in a market. This often involves assigning economic value to something that may not have had a monetary worth before. By turning an item into a commodity for trade, it becomes part of the exchange economy, where it can be marketed or sold to consumers.

This concept is significant in various fields, including economics, sociology, and cultural studies, as it influences how people perceive and interact with cultural artifacts, experiences, and resources. Understanding commodification helps in analyzing how cultural items may shift from being seen as sacred or communal to being viewed solely in terms of their market value, impacting societal values and practices.

The other choices address different aspects of cultural or economic processes but do not accurately capture the essence of commodification. Making something a cultural artifact relates to the preservation of cultural significance rather than its market value. Preserving traditional practices focuses more on maintaining cultural heritage than transforming those practices into economic products. Promoting ethical consumption acknowledges consumer behavior relating to sustainability and ethics but does not define the transformation of an item into a tradeable commodity.