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 Among those caught out: A momentum fund run by AQR Capital Management LLC that manages $3.4 billion in stock, bond, commodity and currency futures. Julie Steinberg, WSJ, "Market’s Vaccine Euphoria Was Bad News for Momentum Funds," 18 Nov. 2020 But instead of fighting to make a decent living a basic right guaranteed to all, Democrats in the current moment use it as a fleeting commodity dangled for political points. Nick Martin, The New Republic, "The Agenda Is Still Survival," 11 Nov. 2020 Bond, commodity and equity trading combined garnered nearly $7 billion in revenue, up 27% year-over-year. Shawn Tully, Fortune, "How J.P. Morgan is proceeding with extreme caution—and still making plenty of money," 14 Oct. 2020 Power was first sold as a commodity in Niagara Falls. Gary Garth, USA TODAY, "Niagara Falls: Free admission and other things you may not know about this tourist spot," 27 Sep. 2020 In such conditions, the bears would no longer be seen as a hunting commodity or a threat, but something to be appreciated in their wild state. Acacia Johnson, National Geographic, "For this family, keeping Alaska wild and pristine is a decades-long mission," 25 Sep. 2020 Two Utah bars failed to meet Monday’s license renewal deadline — giving up an elusive state commodity and the ability to serve alcohol. Kathy Stephenson, The Salt Lake Tribune, "Two bars give up their liquor licenses after deadline passes," 1 Sep. 2020 Building design is also increasingly driven by personal data, collected and held as a commodity, and used to improve business performance and productivity. Jill Lepore, The New Yorker, "Is Staying In Staying Safe?," 31 Aug. 2020 The company hopes to make the flying car a part of normal life and not just a commodity. Lauren M. Johnson, CNN, "Japanese company successfully tests a manned flying car for the first time," 29 Aug. 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

24 Nov 2020

Cite this Entry

“Commodity.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/commodity. Accessed 25 Nov. 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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