commodity

noun
com·​mod·​i·​ty | \ kə-ˈmä-də-tē How to pronounce commodity (audio) \
plural commodities

Definition of commodity

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
2a : 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

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Examples of commodity in a Sentence

agricultural commodities like grain and corn Oil is a commodity in high demand. Patience is a rare commodity.
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Recent Examples on the Web The genetic maps, or genomes, the machines generate are a hot commodity as researchers worldwide attempt to decipher the genetic underpinnings of life and disease, with the hope of finding new medicines or crops. Jeanne Whalen, Washington Post, "California rejected Chinese company’s push to help with coronavirus testing. Was that the right move?," 2 July 2020 In a region known for economic booms and busts, Peru has been a model of steady economic success, bolstered by commodity exports and conservative fiscal policies. Whitney Eulich, The Christian Science Monitor, "‘We’re invisible’: Peru’s moment of reckoning on informal workers," 30 June 2020 The court determined that from March 16, 2017, through Feb. 21, 2018, Butler accepted $305,000 from more than 70 customers to trade binary options contracts, defrauded those customers, and operated as an unregistered commodity trading advisor. William Thornton | Wthornton@al.com, al, "Court orders Alabama man to pay $755,000 for fraud," 17 June 2020 According to the report, countries that rely on global trade, tourism, commodity exports, and external financing will face the most severe hit this year. BostonGlobe.com, "Stocks recoup their 2020 losses as weekslong rebound rolls on," 8 June 2020 Reuters/David Mercado Anti-racist reading lists are a hot commodity in the wake of protests over police brutality and widespread injustice against Black Americans. Sarah Todd, Quartz, "The case for using literature to kickstart conversations about race at work," 12 July 2020 Gilbert applied for relief from the U.S. Agriculture Department’s food assistance program, which is aimed at growers facing declines in commodity prices. Gregory Scruggs, Washington Post, "Coronavirus forces economic reckoning in central Washington’s cherry country," 9 July 2020 Jimmie Johnson is a hot commodity within the IndyCar paddock, and the seven-time NASCAR Cup series champion revealed Friday that a future debut in open-wheel racing could be quite an extensive one. Nathan Brown, The Indianapolis Star, "Jimmie Johnson says he 'has a lot of options' for future rides ahead of first IndyCar test," 4 July 2020 Campsite reservations have been a hot commodity this year. Chelsey Lewis, Milwaukee Journal Sentinel, "State parks have been busier than last year, and many will likely hit capacity limits this weekend," 2 July 2020

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'commodity.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of commodity

15th century, in the meaning defined at sense 1

History and Etymology for commodity

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

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Time Traveler for commodity

Time Traveler

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

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Statistics for commodity

Last Updated

27 Jul 2020

Cite this Entry

“Commodity.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/commodity. Accessed 5 Aug. 2020.

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More Definitions for commodity

commodity

noun
How to pronounce commodity (audio)

English Language Learners Definition of commodity

: something that is bought and sold
: something or someone that is useful or valued

commodity

noun
com·​mod·​i·​ty | \ kə-ˈmä-də-tē How to pronounce commodity (audio) \
plural commodities

Kids Definition of commodity

: something produced by agriculture, mining, or manufacture

commodity

noun
com·​mod·​i·​ty | \ kə-ˈmä-də-tē How to pronounce commodity (audio) \
plural commodities

Legal Definition of commodity

: a class of economic goods especially : an item of merchandise (as soybeans) whose price is the basis of futures trading

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Comments on commodity

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