Definitions for Commoditykəˈmɒd ɪ ti

This page provides all possible meanings and translations of the word Commodity

Princeton's WordNetRate this definition:(0.00 / 0 votes)

  1. commodity, trade good, good(noun)

    articles of commerce

WiktionaryRate this definition:(0.00 / 0 votes)

  1. commodity(Noun)

    Convenience; usefulness, suitability.

  2. commodity(Noun)

    Anything movable (a good) that is bought and sold.

  3. commodity(Noun)

    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. Somerset County Gazette on Jan. 14th, 2008.

  4. commodity(Noun)

    Self-interest; personal convenience or advantage.

  5. commodity(Noun)

    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.

  6. commodity(Noun)

    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.

  7. commodity(Noun)

    Anything which has both a use-value and an exchange-value.

  8. Origin: commoditee, from commoditee, from commoditat, commoditas.

Webster DictionaryRate this definition:(0.00 / 0 votes)

  1. Commodity(noun)

    convenience; accommodation; profit; benefit; advantage; interest; commodiousness

  2. Commodity(noun)

    that which affords convenience, advantage, or profit, especially in commerce, including everything movable that is bought and sold (except animals), -- goods, wares, merchandise, produce of land and manufactures, etc

  3. Commodity(noun)

    a parcel or quantity of goods

  4. Origin: [F. commodit, fr. L. commoditas. See Commode.]

FreebaseRate this definition:(0.00 / 0 votes)

  1. Commodity

    In economics, a commodity is a marketable item produced to satisfy wants or needs. Economic commodities comprise goods and services. The more specific meaning of the term commodity is applied to goods only. It is used to describe a class of goods for which there is demand, but which is supplied without qualitative differentiation across a market. A commodity has full or partial fungibility; that is, the market treats its instances as equivalent or nearly so with no regard to who produced them. "From the taste of wheat it is not possible to tell who produced it, a Russian serf, a French peasant or an English capitalist." Petroleum and copper are other examples of such commodities, their supply and demand being a part of one universal market. Items such as stereo systems, on the other hand, have many aspects of product differentiation, such as the brand, the user interface and the perceived quality. The demand for one type of stereo may be much larger than demand for another. 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. Generally, these are basic resources and agricultural products such as iron ore, crude oil, coal, salt, sugar, tea, coffee beans, soybeans, aluminum, copper, rice, wheat, gold, silver, palladium, and platinum. Soft commodities are goods that are grown, while hard commodities are the ones that are extracted through mining.

British National Corpus

  1. Nouns Frequency

    Rank popularity for the word 'Commodity' in Nouns Frequency: #2290


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