Meaning of the word commodification in English

What does commodification mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

commodification

US /kəˌˌmɑː.dɪ.fɪˈkeɪ.ʃən/
UK /kəˌmɒd.ɪ.fɪˈkeɪ.ʃən/

Noun

the process of treating something as a mere commodity

Example:
The commodification of art has led to a focus on its monetary value rather than its aesthetic worth.
The debate often centers on the commodification of human experiences.