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- Dictionarycommodity/kəˈmɒdɪti/
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"
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COMMODITY definition: 1. a substance or product that can be traded, bought, or sold: 2. a valuable quality: 3. a…. Learn more.
In economics, a commodity is an economic good, usually a resource, that specifically has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them. [1] [2] [3]
The meaning of COMMODITY is an economic good. How to use commodity in a sentence.
COMMODITY definition: a product that you can buy or sell. Learn more.
4 meanings: 1. an article of commerce 2. something of use, advantage, or profit 3. economics an exchangeable unit of economic.... Click for more definitions.
Commodity definition: an article of trade or commerce, especially a product as distinguished from a service.. See examples of COMMODITY used in a sentence.
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. : something that is bought and sold. agricultural commodities like grain and corn. Oil is a commodity in high demand. commodity prices. 2. : something or someone that is useful or valued. Patience is a rare commodity.
A commodity is any useful or valuable thing, especially something that is bought and sold. Grain, coffee, and precious metals are all commodities.
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.
