First Known Use: 15th century
Dictionary
commodity
noun com·mod·i·ty \kə-ˈmä-də-tē\
: something that is bought and sold
: something or someone that is useful or valued
plural com·mod·i·ties
Full Definition of COMMODITY
1
: an economic good: as a : a product of agriculture or mining b : an article of commerce especially when delivered for shipment <commodities futures> c : a mass-produced unspecialized product <commodity chemicals> <commodity memory chips>
2
a : something useful or valued <that valuable commodity patience>; also : thing, entity b : convenience, advantage
4
: a good or service whose wide availability typically leads to smaller profit margins and diminishes the importance of factors (as brand name) other than price
5
: one that is subject to ready exchange or exploitation within a market <stars as individuals and as commodities of the film industry — Film Quarterly>
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Origin of COMMODITY
Middle English commoditee, from Anglo-French commoditee, from Latin commoditat-, commoditas, from commodus
Related to COMMODITY
Other Business Terms
COMMODITY Defined for Kids
commodity
noun com·mod·i·ty \kə-ˈmä-də-tē\
plural com·mod·i·ties
Definition of COMMODITY for Kids
: something produced by agriculture, mining, or manufacture
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