What does commodity mean?

Definitions for commodity
kəˈmɒd ɪ ticom·mod·i·ty

This dictionary definitions page includes all the possible meanings, example usage and translations of the word commodity.

Princeton's WordNet

  1. commodity, trade good, goodnoun

    articles of commerce

Wiktionary

  1. commoditynoun

    Convenience; usefulness, suitability.

  2. commoditynoun

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

  3. commoditynoun

    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. commoditynoun

    Self-interest; personal convenience or advantage.

  5. commoditynoun

    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. commoditynoun

    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. commoditynoun

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

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

Samuel Johnson's Dictionary

  1. Commoditynoun

    Etymology: commoditas, Latin.

    They knew, that howsoever men may seek their own commodity, yet if this were done with injury unto others, it was not to be suffered. Richard Hooker, b. v. sect. 10.

    Commodity, the bias of the world,
    The world, which of itself is poised well,
    ’Till this advantage, this vile drawing biass,
    This sway of motion, this commodity,
    Makes it take head from all indifferency,
    From all direction, purpose, course, intent. William Shakespeare, K. John.

    After much debatement of the commodities or discommodities like to ensue, they concluded. John Hayward.

    There came into her head certain verses, which, if she had had present commodity, she would have adjoined as a retraction to the other. Philip Sidney, b. ii.

    She demanded leave, not to lose this long sought for commodity of time, to ease her heart. Philip Sidney.

    Travellers turn out of the highway, drawn either by the commodity of a foot-path, or the delicacy or the freshness of the fields. Ben Jonson, Discov.

    All my fortunes are at sea;
    Nor have I money, nor commodity
    To raise a present sum. William Shakespeare, Merchant of Venice.

    It had been difficult to make such a mole where they had not so natural a commodity as the earth of Puzzuola, which immediately hardens in the water. Joseph Addison, Remarks on Italy.

    Commodities are moveables, valuable by money, the common measure. John Locke.

    Of money in the commerce and traffick of mankind, the principal use is that of saving the commutation of more bulky commodities. John Arbuthnot, on Coins.

Wikipedia

  1. Commodity

    In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them.The price of a commodity good is typically determined as a function of its market as a whole: well-established physical commodities have actively traded spot and derivative markets. The wide availability of commodities typically leads to smaller profit margins and diminishes the importance of factors (such as brand name) other than price. Most commodities are raw materials, basic resources, agricultural, or mining products, such as iron ore, sugar, or grains like rice and wheat. Commodities can also be mass-produced unspecialized products such as chemicals and computer memory. Popular commodities include crude oil, corn, and gold. Other definitions of commodity include something useful or valued and an alternative term for an economic good or service available for purchase in the market. In such standard works as Alfred Marshall's Principles of Economics (1920) and Léon Walras's Elements of Pure Economics ([1926] 1954) 'commodity' serves as general term for an economic good or service.

ChatGPT

  1. commodity

    A commodity is a basic good or raw material that is interchangeable with other commodities of the same type and used in commerce. These are often used as inputs in the production of other goods or services. Commodities can include agricultural products like wheat and corn, energy resources like oil and gas, or precious metals like gold and silver. Their quality may slightly differ but are essentially uniform across producers. Their prices are typically determined by market supply and demand.

Webster Dictionary

  1. Commoditynoun

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

  2. Commoditynoun

    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. Commoditynoun

    a parcel or quantity of goods

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

Wikidata

  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.

Editors Contribution

  1. commodity

    A specific type of goods and products.

    The commodity was sold at the local market.


    Submitted by MaryC on March 14, 2020  

Matched Categories

British National Corpus

  1. Nouns Frequency

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

How to pronounce commodity?

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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

Examples of commodity in a Sentence

  1. Ric Spooner:

    However, while news of lower borrowing costs will help support equity valuations and be seen as a positive for commodity demand, market response may be limited. In some senses this rate cut is a technical response to the fact that lower inflation is making real borrowing costs more expensive in China.

  2. Darren Lekkerkerker:

    You need to really be careful about owning those stocks, because as the commodity price comes down, when they have a lot of leverage, cash flow is really going to come down too, no one wants to own stocks where they may need to do an equity issue in order to shore up the balance sheet.

  3. Russ Mould:

    There is a good chance the earnings downgrade cycle may be over for the resources sector, with commodity prices regaining strength and demand fundamentals looking slightly better.

  4. Devin Howard:

    My mom called me, she tells me about the carpentry program [at Project H.O.O.D.], i said, 'I'm going to think about it.' Next thing you know, she's like, ‘You're not doing anything right now. The real estate hasn't really picked up yet. Let's take it on.’ And she was right. Time is your biggest commodity.

  5. Norihiro Fujito:

    There is no denying that concerns about the Chinese economy are affecting Japanese shares. Not only construction equipment makers and commodity-related firms but there are growing concerns about hi-tech shares given possible slowdown in smartphone sales (in China).

Popularity rank by frequency of use

commodity#1#8270#10000

Translations for commodity

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"commodity." Definitions.net. STANDS4 LLC, 2024. Web. 25 Jun 2024. <https://www.definitions.net/definition/commodity>.

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