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

Princeton's WordNetRate this definition:3.5 / 2 votes

1. commodity, trade good, goodnoun

   articles of commerce

WiktionaryRate this definition:0.0 / 0 votes

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 DictionaryRate this definition:0.0 / 0 votes

1. Commoditynoun

   Etymology: commoditas, Latin.

   1. Interest; advantage; profit.

   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.

   2. Convenience of time or place.

   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.

   3. Wares; merchandise; goods for traffick.

   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.

WikipediaRate this definition:0.0 / 0 votes

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.

Webster DictionaryRate this definition:5.0 / 1 vote

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.]

FreebaseRate this definition:5.0 / 1 vote

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 ContributionRate this definition:0.0 / 0 votes

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

1. • Artifact

British National Corpus

1. Nouns Frequency

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

How to pronounce commodity?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say commodity in sign language?

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. Nirgunan Tiruchelvam:

   I don't think they have changed their accounting policy. Analysts often miss the stock because commodity markets are quite volatile.

2. Samir Shah:

   This is the biggest positive step to have happened in the commodity market since its inception, all the demand that commodity markets have had, which is to allow participation of banks, FIIs, mutual funds, financial institutions, that entire thing in one sweeping reform now gets enabled.

3. Ivan Glasenberg:

   The capital invested by commodity producers over the past decade has dwarfed returns to shareholders, many commodities now face near-term oversupply and unsustainable returns, despite robust demand.

4. Peter Lowman:

   Clearly, emerging markets have suffered the most over recent months which has now led to pockets of value appearing, especially in those countries less affected by the collapse in commodity prices, therefore, selective countries within EM could be an area of investor interest as we enter 2016.

5. Jon Stewart:

   Your indifference costs these men and women their most valuable commodity - time.

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