commodity
/kəˈmɒdəti/ · com·mod·i·ty
noun
- Anything movable that is bought and sold. The store sells a variety of commodities, including electronics and clothing.
- Something useful or valuable. The new smartphone is a valuable commodity in today's market.
- 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.
Synonyms
Antonyms
Did you know? The term 'commodity' is often used in finance to describe assets that are interchangeable with others of the same type, such as barrels of oil or bushels of wheat.