commodity

noun

com·​mod·​i·​ty kə-ˈmä-də-tē 

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

Synonyms

• being
• entity
• existent
• individual
• individuality
• integer
• object
• reality
• something
• substance
• thing

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

But after the end of Latin America’s commodities boom, and a 2016 earthquake in Ecuador, poverty and inequality rose. —Samantha Schmidt, Washington Post, 12 Apr. 2024

The declarations ban increases on rent or the price of essential commodities, allows for the construction of new homeless dwelling units, and accelerates the permitting and construction process for new housing developments including affordable housing. —Kiara Alfonseca, ABC News, 9 Apr. 2024

Other countries wary of dependence on the West now see how Beijing can be a ready source of technology and payment settlement mechanisms, as well as a giant market for commodities producers. —Alexander Gabuev, Foreign Affairs, 9 Apr. 2024

Vincent Reinhart, a former Fed economist who is now chief economist at Dreyfus and Mellon, told CNN the risk to inflation is on the upside because of goods prices, including commodities. —Matt Egan, CNN, 8 Apr. 2024

In the realm of agriculture, for example, their traditional foods are written into their cultural identity and are celebrated and cared for as kin, not commodity. —Journal Sentinel, 28 Mar. 2024

Breadfruit might just be another commodity tossed about by freak bad weather, at least until the cold spells vanish too. —Zoë Schlanger, The Atlantic, 28 Mar. 2024

Some supply chain challenges, expensive commodities, a few other, exiting Russia, a few other issues. —Fortune Editors, Fortune, 27 Mar. 2024

Robinson’s still developing his technique, but his first-step explosiveness and speed-to-power variation is a rare commodity. —Eddie Brown, San Diego Union-Tribune, 20 Mar. 2024

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

Phrases Containing commodity

• hot commodity

Kids Definition

commodity

noun

com·​mod·​i·​ty kə-ˈmäd-ət-ē 

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 

plural commodities

: a class of economic goods

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