commodity

noun

com·​mod·​i·​ty kə-ˈmä-də-tē 

plural commodities

1

: an economic good: such as

a

: a product of agriculture or mining

agricultural commodities like grain and corn

b

: an article of commerce especially when delivered for shipment

reported the damaged commodities to officials

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

… the many commodities incidental to the life of a public office …

—Charles Lamb

3

: a good or service whose wide availability typically leads to smaller profit margins and diminishes the importance of factors (such as brand name) other than price

4

: one that is subject to ready exchange or exploitation within a market

… stars as individuals and as commodities of the film industry.

—Film Quarterly

5

obsolete : quantity, lot

Synonyms

• being
• entity
• existent
• individual
• individuality
• integer
• object
• reality
• something
• substance
• thing

Examples of commodity in a Sentence

agricultural commodities like grain and corn

Oil is a commodity in high demand.

Patience is a rare commodity.

Recent Examples on the Web

Coffee the commodity is up 38% in that same time period. —Jason Gewirtz, CNBC, 18 Dec. 2024

Crypto skeptics say that, unlike most other commodities, bitcoin has no intrinsic use and is not crucial to the functioning of the U.S. economy. —Gertrude Chavez-Dreyfuss and Lisa Pauline Mattackal, USA TODAY, 17 Dec. 2024

The damage will be felt for years to come both within China and in countries that relied on strong Chinese demand to export their cars, commodities, and services. —Daniel H. Rosen, Foreign Affairs, 17 Dec. 2024

The word Elgin may conjure an infamous set of Greek marbles, but this small town of the same name in Morayshire, in the northeast of Scotland, has solid links with another treasured commodity: cashmere. —Shane C Kurup, Condé Nast Traveler, 17 Dec. 2024

Word History

Etymology

Middle English commoditee, from Anglo-French, from Latin commoditat-, commoditas, from commodus

First Known Use

15th century, in the meaning defined at sense 1

Phrases Containing commodity

• hot commodity

Kids Definition

commodity

noun

com·​mod·​i·​ty kə-ˈmäd-ət-ē 

plural commodities

1

: a product of agriculture or mining

2

: an article that is bought and sold in commerce

Legal Definition

commodity

noun

com·​mod·​i·​ty kə-ˈmä-də-tē 

plural commodities

: a class of economic goods

especially : an item of merchandise (as soybeans) whose price is the basis of futures trading