commodity

Plural: commodities

Noun

• articles of commerce
• Anything movable (a good) that is bought and sold.
• Something useful or valuable.
• Raw materials, agricultural and other primary products as objects of large-scale trading in specialized exchanges.
• Undifferentiated goods characterized by a low profit margin and (usually) fungibility, as distinguished from branded products not wholly fungible.
• Anything which has both a use value and an exchange value.
• Convenience; usefulness, suitability.
• Self-interest; personal convenience or advantage.

Examples

• Although they were once in the forefront of consumer electronics, the calculators have become a mere commodity.
• The price of crude oil is determined in continuous trading between professional players in World's many commodities exchanges.

Synonyms

good, trade good

Related Words

commodification, commoditization