# commodity

Pronunciation: say "kuh-MOD-uh-tee" US /kəˈmɑdəti/, UK /kəˈmɒdəti/

## Noun

1. Any movable good that can be bought and sold.
   - Simple: A thing that people buy and sell.
   - _Wheat is treated as a commodity, bought and sold in huge quantities._
   - _Traders move commodities like oil and metal between distant markets._
2. Raw materials and primary agricultural products bought and sold in bulk on specialized exchanges.
   - Simple: Raw materials and crops that are bought and sold in huge amounts on special markets.
   - _Copper is a commodity whose price swings with global demand._
   - _Traders on the exchange buy and sell agricultural commodities like soybeans and sugar._
3. A largely interchangeable good with a low profit margin, distinguished from branded products that aren't fully interchangeable.
   - Simple: A basic product that is the same no matter who makes it, sold on price not brand.
   - _Once a smartphone feature becomes standard, it turns into a commodity._
   - _Manufacturers fear that their gadgets will become mere commodities competing only on price._
4. Something regarded as useful or valuable.
   - Simple: A thing that is useful or worth having.
   - _In modern politics, public trust is a valuable commodity._
   - _Time becomes the most precious commodity when deadlines loom._
5. Anything possessing both a use value and an exchange value.
   - Simple: A thing that is both useful and can be traded for other things.
   - _For an economist, a commodity must be both usable and exchangeable._
   - _Each commodity carries a use value for the consumer and an exchange value in the market._

## Noun

6. Convenience; usefulness or suitability for a purpose. *(obsolete)*
   - Simple: Usefulness, or how well a thing suits what you need.
   - _The merchant valued the commodity of a sheltered port above all else._
   - _She chose the dwelling for its commodity, finding every room close at hand._
7. Personal advantage or self-interest; one's own profit or convenience as a motive. *(obsolete)*
   - Simple: Personal gain, or doing what is best for yourself.
   - _The courtier pursued his own commodity at every turn, indifferent to others._
   - _They accused the magistrate of ruling for private commodity rather than justice._

## Origin

From Middle English commoditee, from Anglo-Norman commoditee, which came from Latin commoditās.

Source: DictionaryAI, https://dictionaryai.com/define/commodity (written from Wiktionary data, CC BY-SA 4.0: https://creativecommons.org/licenses/by-sa/4.0/).