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Commodification is the process of transforming inalienable, free, or gifted things (objects, services, ideas, nature, personal information, people or animals) into commodities, or objects for sale.
In business literature, commoditization is defined as the process by which goods that have economic value and are distinguishable in terms of attributes (uniqueness or brand) end up becoming simple commodities in the eyes of the market or consumers.
Other definitions of commodity include something useful or valued [4] and an alternative term for an economic good or service available for purchase in the market. [5] In such standard works as Alfred Marshall 's Principles of Economics (1920) [ 6 ] and Léon Walras 's Elements of Pure Economics ([1926] 1954) [ 7 ] 'commodity' serves as general ...
The commodification of nature has its origins in the rise of capitalism.In England and later elsewhere, "enclosure" involved attacks upon and eventual near-elimination of the commons—a long, contested and frequently violent process Marx referred to as "primitive accumulation."
Water is a basic need of life and presently, an estimated one billion persons do not have access to safe drinking water, and even more have inadequate sanitation. [5] Global institutions, including the United Nations, warn of the impact of a growing global population and the effects of climate change on the ability of people to access freshwater. [3]
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Scientific terminology is the part of the language that is used by scientists in the context of their professional activities. While studying nature, scientists often encounter or create new material or immaterial objects and concepts and are compelled to name them.
Science & Society, Vol 68, # 1, Spring 2004. Both commodity and commodification play an important role in the critical approaches to the political economy of communication, e.g.: Prodnik, Jernej (2012). "A Note on the Ongoing Processes of Commodification: From the Audience Commodity to the Social Factory".