What Does A Commodity Mean?


5 Answers

Evelyn Vaz Profile
Evelyn Vaz answered
The word commodity found its way in the English vocabulary somewhere around the 15th century. It was derived from the French word "commodité", which means "convenience" in respect to quality of services. The Latin word is commoditas, which means a fitting state, time or condition; a good value; efficaciousness or decorum; and advantage, or benefit. In French it is also equal to "produit de base", such as energy, goods and industrial raw materials.

In terms of business it is referred to as a product, which is an undifferentiated manufactured good whose price arises from the owner's right to put on the market rather than pay money for. Some of the examples could be electricity, music, bandwidth, RAM chips, wheat, bulk chemicals such as sulfuric acid, base and other metals, to name a few.
Arica Sharma Profile
Arica Sharma , Commodity, answered

Any good exchanged during commerce, which includes goods traded on a commodity exchange.

chen lyfen Profile
chen lyfen answered
Commodity is a noun, it means : A product or material that can be bought and sold. Ex : Salt was once a very valuable commodity.
Anonymous Profile
Anonymous answered
Goods which can be bought and sold like oil,gas, gold, sugar, coffee etc. All these can be traded for exchange as well

Answer Question