commodity

noun

com·​mod·​i·​ty kə-ˈmä-də-tē How to pronounce commodity (audio)
plural commodities
1
: an economic good: such as
a
: a product of agriculture or mining
agricultural commodities like grain and corn
b
: an article of commerce especially when delivered for shipment
reported the damaged commodities to officials
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
… the many commodities incidental to the life of a public office …Charles Lamb
3
: a good or service whose wide availability typically leads to smaller profit margins and diminishes the importance of factors (such as brand name) other than price
4
: one that is subject to ready exchange or exploitation within a market
… stars as individuals and as commodities of the film industry.Film Quarterly
5
obsolete : quantity, lot

Examples of commodity in a Sentence

agricultural commodities like grain and corn Oil is a commodity in high demand. Patience is a rare commodity.
Recent Examples on the Web Still, economists and government officials blame the inflation of the past few years on a mix of factors: supply disruptions during the pandemic, a tighter (and more expensive) labor market, higher gas prices as well as tighter commodity markets amid the war in the Ukraine. The Enquirer, 7 Mar. 2024 Robinson’s still developing his technique, but his first-step explosiveness and speed-to-power variation is a rare commodity. Eddie Brown, San Diego Union-Tribune, 6 Mar. 2024 In an impoverished country with little to exploit, the gangs are treating human beings like commodities, snatching at least 2,490 people off the street last year to trade in a fast-growing kidnapping business, per UN figures. Caitlin Stephen Hu, CNN, 4 Mar. 2024 Spot commodity applications filed under the Securities Act of 1933 have 240-day clocks, or approval time deadlines, for the SEC to mull over them. Steven Ehrlich, Forbes, 1 Mar. 2024 At Libertine, a buzzy new bistro in New York’s West Village, tight quarters and sky-high demand mean that a prime-time reservation is a scarce commodity, and eager diners are willing to do just about anything to snag one. Li Goldstein, Bon Appétit, 29 Feb. 2024 When the government last year banned Apple’s iPhone 14 and 15 from the Islamic Republic, the ban spurred a parallel economy for the older handsets, jacking up prices for the devices as many sought to put their depreciating Iranian rials into any physical commodity. Nasser Karimi, The Christian Science Monitor, 29 Feb. 2024 Overall inflation, as measured by the Consumer Price Index, peaked at 9.1 percent in summer 2022 but slowed to just 3.1 percent at the start of this year, while food commodity costs like beef, grains and some kinds of dairy have been easing. Jason Karaian, New York Times, 20 Feb. 2024 Higher production has been swamped by lower commodity prices though. Trefis Team, Forbes, 22 Feb. 2024

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'commodity.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

Etymology

Middle English commoditee, from Anglo-French, from Latin commoditat-, commoditas, from commodus

First Known Use

15th century, in the meaning defined at sense 1

Time Traveler
The first known use of commodity was in the 15th century

Dictionary Entries Near commodity

Cite this Entry

“Commodity.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/commodity. Accessed 19 Mar. 2024.

Kids Definition

commodity

noun
com·​mod·​i·​ty kə-ˈmäd-ət-ē How to pronounce commodity (audio)
plural commodities
1
: a product of agriculture or mining
2
: an article that is bought and sold in commerce

Legal Definition

commodity

noun
com·​mod·​i·​ty kə-ˈmä-də-tē How to pronounce commodity (audio)
plural commodities
: a class of economic goods
especially : an item of merchandise (as soybeans) whose price is the basis of futures trading

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