Definition, Meaning & Synonyms
commodity
noun
/kəˈmɒdəti/
Definition
A commodity is a basic good that is interchangeable with other goods of the same type.
Examples
- Coffee is one of the most traded commodities in the world.
- Oil is a vital commodity that impacts global economies.
Meaning
Traditionally, commodities are natural resources or agricultural products that can be bought and sold.
Synonyms
- Goods
- Product
- Merchandise
