Definition of commodity
1 : an economic good: such asa : a product of agriculture or mining agricultural commodities like grain and cornb : an article of commerce especially when delivered for shipment reported the damaged commodities to officialsc : a mass-produced unspecialized product commodity chemicals commodity memory chips
4 : 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
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 in a Sentence
agricultural commodities like grain and corn
Oil is a commodity in high demand.
Patience is a rare commodity.
Recent Examples of commodity from the Web
And Russia has suffered from low commodity prices and political tension with the West.
Gluts of coal, steel, cement and other industrial commodities have been generating heavy pollution but dwindling profits.
The reality is a lot of commodity brewers follow that law, making cheap, crappy beer.
Even better, that market is most likely to grow no matter what happens to commodity prices or interest rates.
But oil ultimately ended down, as concerns about the Chinese slowdown crimped commodity prices.
The meal is a market commodity, so why claim that the reservation is something altogether different?
Wall Street be warned, if this hearing was any indication, the Senate is coming down on the side of culling the commodities business.
In 1983, Rudolph Giuliani, then a federal prosecutor in New York, indicted commodities trader Marc Rich for illegally trading oil with Iran and tax evasion.
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Origin and Etymology of commodity
Middle English commoditee, from Anglo-French, from Latin commoditat-, commoditas, from commodus
First Known Use: 15th century
COMMODITY Defined for English Language Learners
Definition of commodity for English Language Learners
: something that is bought and sold
: something or someone that is useful or valued
COMMODITY Defined for Kids
Definition of commodity for Students
: something produced by agriculture, mining, or manufacture
Legal Definition of commodity
: a class of economic goods; especially : an item of merchandise (as soybeans) whose price is the basis of futures trading
Seen and Heard
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