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

Browse

Next Word in the Dictionary: commodity dollar
Previous Word in the Dictionary: commoditize
All Words Near: commodity

Seen & Heard

What made you want to look up commodity? Please tell us where you read or heard it (including the quote, if possible).

Get Our Free Apps
Voice Search, Favorites,
Word of the Day, and More
Join Us on FB & Twitter
Get the Word of the Day and More