commodity

2 ENTRIES FOUND:

com·mod·i·ty

noun \kə-ˈmä-də-tē\

: something that is bought and sold

: something or someone that is useful or valued

plural com·mod·i·ties

Full Definition of COMMODITY

1
:  an economic good: as
a :  a product of agriculture or mining
b :  an article of commerce especially when delivered for shipment <commodities futures>
c :  a mass-produced unspecialized product <commodity chemicals> <commodity memory chips>
2
a :  something useful or valued <that valuable commodity patience>; also :  thing, entity
b :  convenience, advantage
3
obsolete :  quantity, lot
4
:  a good or service whose wide availability typically leads to smaller profit margins and diminishes the importance of factors (as brand name) other than price
5
:  one that is subject to ready exchange or exploitation within a market <stars as individuals and as commodities of the film industry — Film Quarterly>

Examples of COMMODITY

  1. agricultural commodities like grain and corn
  2. Oil is a commodity in high demand.
  3. Patience is a rare commodity.

Origin of COMMODITY

Middle English commoditee, from Anglo-French commoditee, from Latin commoditat-, commoditas, from commodus
First Known Use: 15th century

Other Business Terms

amortize, caveat emptor, clearinghouse, divest, due diligence, emolument, green-collar, marque, overhead, perquisite

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