Question

The process by which something which was not a commodity before in market economy and is made into a commodity is known as:-

• A. Commoditisation
• B. Capitalism
• C. Labour power
• D. Mode of production

Hint:

In sociology and economics, understanding key definitions is crucial. Distinguish between a broad system (like Capitalism), a process within that system (Commoditisation), and components of the system (Labour power).

Answer 1

The Correct Option is A

Step 1: Understanding the Concept:
This question asks for the specific term used to describe the transformation of non-commercial items, services, or ideas into marketable goods or commodities.
Step 2: Detailed Explanation:
Let's examine the given options:
1. Commoditisation (or Commodification): This is the correct term. It refers to the process of transforming things valued for their intrinsic or use-value into commodities valued for what they can be sold for in the market (exchange-value). Examples include the bottling of water, the selling of personal data, or turning cultural festivals into tourist events.
2. Capitalism: This is a broad economic system characterized by private ownership of the means of production and their operation for profit. While commoditisation is a key feature of capitalism, capitalism is the system itself, not the specific process.
3. Labour power: In Marxist theory, labour power is the capacity of a worker to perform work, which itself is sold as a commodity in a capitalist system. It is an example of something that is commoditised, but not the process itself.
4. Mode of production: This is a Marxist concept that refers to the specific combination of productive forces (like human labour and tools) and social and technical relations of production (the property and power relations that govern society's productive assets). It's a much broader concept describing the way a society produces its means of existence.
Step 3: Final Answer:
The precise term for making something into a commodity is "Commoditisation."