Commercialization refers to the process of introducing a new product or service into the market for sale to consumers. While it
can bring benefits such as increased availability of goods and services, enhanced competition, and innovation, it can also lead to
higher prices for consumers due to several factors:
- Profit motive: Commercialization often focuses on maximizing profits, which can lead to pricing strategies aimed at
generating higher revenues.
- Advertising and marketing costs: Companies invest in promoting their products, and these costs are often passed on tos
consumers in the form of higher prices.
- Market power: In competitive markets, commercialization can lead to dominant firms setting prices that consumers must accept.