English · Work & Business
commodity
/kəˈmɒd.ɪ.ti/
[/kəˈmɒd.ɪ.ti/]
tradable good
Advancednoun
Definition
A raw material or basic good that can be bought and sold, often interchangeably.
Example
As oil is a global commodity, its price affects economies all around the world.
As oil is a global commodity, its price affects economies all around the world.
Etymology
From Latin 'commoditas' (convenience, advantage), from 'commodus' (suitable).
How & Where It’s Used
Used in economics, trade, and finance.