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

Commoditisation

The correct answer is Option (1) → Commoditisation

Commoditisation is the process by which something that was not previously bought and sold in the market is transformed into a commodity—an item that can be traded, assigned a market value, and exchanged in a market economy. This process often involves turning natural resources, services, cultural practices, or even personal attributes into products for sale.

For example:

• Water becoming bottled and sold instead of freely available.

• Traditional knowledge being patented and sold as products.

• Healthcare and education increasingly treated as market goods.