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