/keuh mod"i tee/ , n. , pl. commodities .
1. an article of trade or commerce, esp. a product as distinguished from a service.
2. something of use, advantage, or value.
3. Stock Exchange. any unprocessed or partially processed good, as grain, fruits, and vegetables, or precious metals.
4. Obs. a quantity of goods.
[ 1375-1425; late ME commodite commoditas timeliness, convenience, equiv. to commod ( us ) (see COMMODE) + -itas -ITY ]