commodity meaning
EN
[kəˈmɑdəti] [kəˈmɒdəti] WCommodity
- In economics, a commodity is a marketable item produced to satisfy wants or needs. Economic commodities comprise goods and services.
- The exact definition of the term commodity is specifically used to describe a class of goods for which there is demand, but which is supplied without qualitative differentiation across a market.
- In contrast, one of the characteristics of a commodity good is that its price is determined as a function of its market as a whole. Well-established physical commodities have actively traded spot and derivative markets.
- NounPLcommoditiesPREcom-SUF-ity
- (obsolete) Convenience; usefulness, suitability.
- Anything movable (a good) that is bought and sold.
- Something useful or valuable.
- And Slade said: "It really makes me sad that football club chairmen and boards seem to have lost that most precious commodity - patience. "Sam's sacking at Newcastle had, I suppose, been on the cards for a while, but it is really ridiculous to fire a manager after such a short time.
- (obsolete) Self-interest; personal convenience or advantage.
- (economics) Raw materials, agricultural and other primary products as objects of large-scale trading in specialized exchanges.
- The price of crude oil is determined in continuous trading between professional players in World's many commodities exchanges.
- (marketing) Undifferentiated goods characterized by a low profit margin, as distinguished from branded products.
- Although they were once in the forefront of consumer electronics, the calculators have become a mere commodity.
- (Marxism) Anything which has both a use-value and an exchange-value.
- (obsolete) Convenience; usefulness, suitability.
- More Examples
- Used in the Middle of Sentence
- Russia has many so-called monocities, where most of the town's population is employed by one industry such as car production or commodities output.
- Used in the Middle of Sentence
Definition of commodity in English Dictionary
- Part-of-Speech Hierarchy
- Nouns
- Countable nouns
- Countable nouns
- Nouns
Source: Wiktionary
Grammatically, this word "commodity" is a noun, more specifically, a countable noun.