Meaning of COMMODITY in English

COMMODITY

/ kəˈmɒdəti; NAmE -ˈmɑːd-/ noun ( pl. -ies )

1.

( economics ) a product or a raw material that can be bought and sold :

rice, flour and other basic commodities

a drop in commodity prices

Crude oil is the world's most important commodity.

➡ note at product

2.

a thing that is useful or has a useful quality :

Water is a precious commodity that is often taken for granted in the West.

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WORD ORIGIN

late Middle English : from Old French commodite or Latin commoditas , from commodus convenient.

Oxford Advanced Learner's English Dictionary.      Оксфордский английский словарь для изучающик язык на продвинутом уровне.