commodity

noun

com·​mod·​i·​ty kə-ˈmä-də-tē How to pronounce commodity (audio)
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

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
Examples are automatically compiled from online sources to show current usage. Read More Opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback.
This increase is attributed to higher crude oil sales volumes, despite lower commodity prices. Quartz Bot, Quartz, 8 Nov. 2024 Behind the economic commodity of coffee are thousands of hardworking people who are already living in poverty and facing devastating losses because of climate change. Christopher Marquis, Forbes, 5 Nov. 2024 Regulatory changes and costs certainly affect producers' decisions, but that can be swamped by very attractive or very low commodity prices. Ben Geman, Axios, 1 Nov. 2024 Kering plans to continue its use of certifications for its sourcing downstream of key commodities such as wood and rubber, and to continue its efforts to promote regenerative agriculture practices in its supply chain. Rhonda Richford, WWD, 31 Oct. 2024 See all Example Sentences for commodity 

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

Time Traveler
The first known use of commodity was in the 15th century

Dictionary Entries Near commodity

Cite this Entry

“Commodity.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/commodity. Accessed 23 Nov. 2024.

Kids Definition

commodity

noun
com·​mod·​i·​ty kə-ˈmäd-ət-ē How to pronounce commodity (audio)
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 How to pronounce commodity (audio)
plural commodities
: a class of economic goods
especially : an item of merchandise (as soybeans) whose price is the basis of futures trading

More from Merriam-Webster on commodity

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