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
Examples are automatically compiled from online sources to show current usage. Read More Opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback.
Higher demand should, barring a deluge of excessive supply, lead to favorable prices of the commodity, benefitting companies like Coterra that produce it. Kevin Stankiewicz, CNBC, 6 Dec. 2024 In order to reduce demand for the commodity, new equipment may be needed. Bill Conerly, Forbes, 5 Dec. 2024 While grocery bills for consumers remain elevated compared to pre-pandemic levels, the easing of commodity prices has squeezed margins for food giants, intensifying challenges for industry leaders like Cargill. Mark R. Weaver, Newsweek, 4 Dec. 2024 The dollar represents roughly 58% of the world's foreign exchange reserves, according to the International Monetary Fund, and major commodities like oil are still primarily bought and sold using dollars. Democrat-Gazette Staff From Wire Reports, arkansasonline.com, 1 Dec. 2024 See all Example Sentences for commodity 

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 11 Dec. 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

More from Merriam-Webster on commodity

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