Water which was available freely some 15 years ago is now bottled and sold for a cost. This process is called _________.

Commodification

The correct answer is Option (3) → Commodification

The process described, where water that was previously freely available is now bottled and sold for a cost, is called commodification. This term refers to the transformation of goods, services, or other entities that were not previously regarded as commodities into items that can be bought and sold in a market. In this case, water has been commodified, turning it into a product that is marketed and sold for profit.