What does commodity mean?

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

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

Princeton's WordNet

  1. commodity, trade good, goodnoun

    articles of commerce


  1. commoditynoun

    Convenience; usefulness, suitability.

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

  2. commoditynoun

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

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

  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.

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

  4. commoditynoun

    Self-interest; personal convenience or advantage.

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

  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.

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

  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.

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

  7. commoditynoun

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

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

Webster Dictionary

  1. Commoditynoun

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

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

  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

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

  3. Commoditynoun

    a parcel or quantity of goods

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


  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  

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British National Corpus

  1. Nouns Frequency

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

How to pronounce commodity?

How to say commodity in sign language?


  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. Thomas Brooks (1608-1680):

    Christ is a most precious commodity, he is better than rubies or the most costly pearls; and we must part with our old gold, with our shining gold, our old sins, our most shining sins, or we must perish forever. Christ is to be sought and bought with any pains, at any price; we can not buy this gold too dear. He is a jewel more worth than a thousand worlds, as all know who have him. Get him, and get all; miss him and miss all.

  2. Ahmed Korayem:

    I am willing to be persuaded into seeing any other person's perspective as long as they possess, at the very least, two properly functioning brain cells. Unfortunately, this is a rare commodity.

  3. Ryan Lance:

    A compelling dividend is a key aspect of our value proposition to shareholders, while this increase is more modest than in previous years, we believe it is appropriate given the lower commodity price environment.

  4. David Madden:

    A mixture of disappointing corporate results and continued pressure from the commodity sector has sent stocks lower, equity markets have suffered a few severe sell-offs since the summer and they are still nervous, and an absence of positive news is seen a negative.

  5. Prince Abdulaziz:

    For a major reserve holder, oil producer and exporter such as Saudi Arabia, our focus has always been on the long-term trends shaping the oil market, rather than being a commodity in decline, as some would like to portray, supply and demand patterns indicate that the long-term fundamentals of the oil complex remain robust.

Images & Illustrations of commodity

  1. commoditycommoditycommoditycommoditycommodity

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    an undivided or unbroken completeness or totality with nothing wanting
    • A. intelligence
    • B. suffering
    • C. integrity
    • D. humility

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