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 (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
Like all commodities, price fluctuates with demand.
And who better to tend to that, in his own mind at least, than Nigel Farage, the beer-loving commodities-trader-turned-populist-leader of the U.K. Independence Party.
Some large data center operators are choosing instead to run networking software on inexpensive commodity-style switching systems from vendors such as Taiwan’s Quanta Computer Inc.
There was stress on emerging economies due to the weakness in global commodity prices.
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.
But oil ultimately ended down, as concerns about the Chinese slowdown crimped commodity prices.
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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