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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"
noun, plural com·mod·i·ties. an article of trade or commerce, especially a product as distinguished from a service. something of use, advantage, or value. Stock Exchange. any unprocessed or partially processed good, as grain, fruits, and vegetables, or precious metals. Obsolete. a quantity of goods.
- Types of Commodities
- How The Commodities Trading Market Works
- Commodities Markets and Oversight
- Commodities as A Business Term
Since there are so many commodities, they are grouped into three major categories: agriculture, energy, and metals.
Commodities trading determines the prices of all commodities. As a result, the prices of the most important items you use every day are volatile. In some cases, like gasoline, they change from day to day. Commodities trading especially impacts lower-income people around the world, who pay more of their limited income on food and transportation. It ...
The U.S. commodities markets are in Chicago, New York, and Atlanta. The CME Group owns all but one. The Chicago Mercantile Exchange focuses on agricultural commodities, while the Chicago Board of Trade specializes in grains. The New York Mercantile Exchange focuses on energy and metals. The Commodity Exchange is located in New York, although the Ch...
In business, commodities can be defined as any good or service that is bought and sold purely on price. These include the traded commodities. They can also include products that are not differentiated from others based on brand, benefits, or other distinguishing features. For example, Coca-Cola is a branded product that receives loyalty, and a high...
- Kimberly Amadeo
COMMODITY definition: a product that you can buy or sell. Learn more.
noun, plural com·mod·i·ties. an article of trade or commerce, especially a product as distinguished from a service. something of use, advantage, or value. Stock Exchange. any unprocessed or partially processed good, as grain, fruits, and vegetables, or precious metals. Obsolete. a quantity of goods. Recommended videos. Powered by AnyClip.
commodity (economics) a product or raw material that can be bought and sold, especially between countries: rice, flour, and other basic commodities; merchandise goods that are bought or sold; things that you can buy that are connected with or that advertise a particular event or organization: official Olympic merchandise; goods or merchandise?
Definition of commodity – Learner’s Dictionary. commodity. noun [ C ] uk/kəˈmɒdəti/us. a product that you can buy or sell. Want to learn more? Improve your vocabulary with English Vocabulary in Use from Cambridge. Learn the words you need to communicate with confidence.
Commodity refers to a raw material or primary agricultural product that can be bought and sold, such as oil, gold, or wheat. Goods, on the other hand, are finished products that have been manufactured or processed and are ready for sale, such as clothing, electronics, or furniture.