What does Commodity mean?

Definitions for Commoditykəˈmɒd ɪ ti

Here are all the possible meanings and translations of the word Commodity.

Princeton's WordNet

  1. commodity, trade good, good(noun)

    articles of commerce

Wiktionary

  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 Dictionary

  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.]

Freebase

  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

Numerology

  1. Chaldean Numerology

    The numerical value of Commodity in Chaldean Numerology is: 8

  2. Pythagorean Numerology

    The numerical value of Commodity in Pythagorean Numerology is: 9

Sample Sentences & Example Usage

  1. Unknown:

    Advice is the only commodity on the market where the supply always exceeds the demand.

  2. Peter McWilliams:

    Acceptance is such an important commodity, some have called it the first law of personal growth.

  3. Daniel J. Boorstin:

    Knowledge is not simply another commodity. On the contrary. Knowledge is never used up. It increases by diffusion and grows by dispersion.

  4. Henry Watton:

    In architecture as in all other operative arts, the end must direct the operation. The end is to build well. Well building has three conditions Commodity, Firmness and Delight.

  5. Harvey Schwartz:

    Over the last couple years we've often been asked the question: It seems like everybody else is getting out of the commodity business. How come you aren't getting out of the commodity business?

Images & Illustrations of Commodity


Translations for Commodity

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"Commodity." Definitions.net. STANDS4 LLC, 2017. Web. 21 Jul 2017. <http://www.definitions.net/definition/Commodity>.

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