What does Commodity mean?

Commodity meaning in General Dictionary

ease accommodation profit benefit advantage interest commodiousness

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  • articles of business
  • efficiency; accommodation; profit; advantage; advantage; interest; commodiousness.
  • whatever affords convenience, advantage, or profit, especially in trade, including every thing movable that is purchased and offered (except creatures), -- items, products, merchandise, produce of land and manufactures, etc.
  • A parcel or quantity of goods.

Commodity meaning in Economics Dictionary

a relatively homogeneous product that can usually be purchased in bulk. It generally describes a natural product - oil, cotton, cocoa, silver - but can in addition explain a manufactured item always make other items, for instance, microchips used in computers. Commodities are often traded on product exchanges. On AVERAGE, the price tag on all-natural commodities has actually dropped steadily in REAL TERMS in defiance of some predictions that growing usage of non-renewables eg copper would force costs up. Often times the oil cost features increased greatly in real terms, such as during 1970s, but this was because of never to the fatigue of restricted materials but to rationing by the OPEC CARTEL, or war, or anxiety about it, especially in the oil-rich Middle East.

Commodity meaning in Law Dictionary

great that is sold easily into general public. It could be farming, gasoline, or metals. It is traded in bulk into the product or area market.

Commodity meaning in Etymology Dictionary

early 15c., "benefit, revenue, welfare;" later "a convenient or of use product," from Middle French commodit

Commodity meaning in Business Dictionary

A reasonably homogeneous good or material, purchased and marketed easily as an article of business. Commodities feature farming items, fuels, and metals and so are exchanged in bulk on a commodity trade or area market.

Sentence Examples with the word Commodity

Foreign coins were formerly legal tender in the republic, but this has been changed by the exclusion of foreign silver coins and the acceptance of foreign gold coins as a commodity at a fixed value.

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