'marketization' originates from the English word 'market,' combined with the suffix '-ization,' indicating the process of making or becoming.

'Market' evolved from the Latin word 'mercatus,' meaning 'trade' or 'marketplace,' and '-ization' is a suffix used to form nouns indicating a process or result.

Initially, it referred to the act of creating a market, but over time it evolved to mean the broader process of introducing market principles.