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- DictionaryCom·mod·i·ty/kəˈmädədē/
noun
- 1. a raw material or primary agricultural product that can be bought and sold, such as copper or coffee: "commodities such as copper and coffee"
Commodity definition: an article of trade or commerce, especially a product as distinguished from a service.. See examples of COMMODITY used in a sentence.
A commodity is any useful or valuable thing, especially something that is bought and sold. Grain, coffee, and precious metals are all commodities.
commodity. noun. /kəˈmɒdəti/. /kəˈmɑːdəti/. (plural commodities) (economics) a product or a raw material that can be bought and sold. rice, flour and other basic commodities. a drop in commodity prices. Crude oil is the world's most important commodity.
1. an article of trade or commerce, esp. a product as distinguished from a service. 2. something of use, advantage, or value. 3. any unprocessed or partially processed good, as a grain, fruit or vegetable, or a precious metal. 4. Obs. a quantity of goods.
Most commodities are raw materials, basic resources, agricultural, or mining products, such as iron ore, sugar, or grains like rice and wheat. Commodities can also be mass-produced unspecialized products such as chemicals and computer memory. Popular commodities include crude oil, corn, and gold.
Sep 12, 2019 · In economics, a commodity is defined as a tangible good that can be bought and sold or exchanged for products of similar value. Natural resources such as oil as well as basic foods like corn are two common types of commodities.
3 days ago · A commodity is an item that is traded on the market, such as wheat, gold, silver, oil, coffee, or sugar.
