commodity
UK /kəˈmɒdəti/ · US /kəˈmɑdəti/ noun
Forms commodities commoditie
- noun (business) Anything movable (a good) that is bought and sold.
- noun Something useful or valuable.
- noun (economics) 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.”
- noun (marketing) Undifferentiated goods characterized by a low profit margin and (usually) fungibility, as distinguished from branded products not wholly fungible. “Although they were once in the forefront of consumer electronics, the calculators have become a mere commodity.”
- noun (Marxism) Anything which has both a use value and an exchange value.
- noun (obsolete) Convenience; usefulness, suitability.
- noun (obsolete) Self-interest; personal convenience or advantage.
Synonyms
Etymology
Inherited from Middle English commoditee, borrowed from Anglo-Norman commoditee, from Latin commoditās.
Webster’s 1913
- noun Convenience; accommodation; profit; benefit; advantage; interest; commodiousness. [Obs.]
- noun 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.]
Sources: Wiktionary · WordNet 3.0 · Webster’s 1913 — from the Wiktionary entry “commodity”, CC BY-SA 4.0. Details