Commoditization is a term from both economics and the social sciences which is used to describe the process by which a good becomes saleable in the market. Commoditization can be considered as positive, in that it makes the good available to a broader audience, or as a negative, implying the cheapening of a class of "goods" in the philosophical sense. Economics (deriving from the Greek words οίκω [okos], house, and νέμω [nemo], rules hence household management) is the social science that studies the allocation of scarce resources to satisfy unlimited wants. ... Terms like SOSE (Studies of Society & the Environment) not only refer to social sciences but also studies of the environment. ... A market is a mechanism which allows people to trade, normally governed by the theory of supply and demand, so allocating resources through the price mechanism. ...
Commoditization is a term from both economics and the social sciences which is used to describe the process by which a good becomes saleable in the market.
Commoditization can be considered as positive, in that it makes the good available to a broader audience, or as a negative, implying the cheapening of a class of "goods" in the philosophical sense.
Diminishing marginal utility occurs when the more of an item is had, the less utlity it has for the haver.
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