commodity
kuh-MO-duh-tee
Commodity (noun) means a raw material or basic good that is bought and sold in bulk, such as oil, wheat, or gold. Example: “Farmers watch the price of each commodity closely before deciding what to sell.”
noun
1
A raw material or basic good that is bought and sold in bulk, such as oil, wheat, or gold.
"Farmers watch the price of each commodity closely before deciding what to sell."
"Coffee is one of the most heavily traded commodities in the world."
"Prices for the commodity spiked after the harvest failed."
2
Something useful or valuable, especially something treated as an interchangeable product rather than something unique.
"Basic smartphones have become a commodity, so shops compete mostly on price."
"Free time is a rare commodity for parents of newborn twins."
"In the tech industry, cloud storage has become a commodity."
How to use commodity
Learner’s notesIn plain EnglishA basic good, especially a raw material, traded in large quantities — think grain, metal, or fuel.
Common pairings
commodity prices
raw commodity
commodity market
trade in commodities
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Word forms
- Plural
- commodities
Fill the gap
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Farmers watch the price of each _____ closely before deciding what to sell.
Etymology
From Latin commoditas, "convenience, fitness," from commodus ("suitable"), the same root as commode and accommodate.
Synonyms
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Rhymes for commodity
See all rhymes for commodity →Frequently asked questions
What does “commodity” mean?
The word “commodity” means a raw material or basic good that is bought and sold in bulk, such as oil, wheat, or gold. In plain terms, a basic good, especially a raw material, traded in large quantities — think grain, metal, or fuel.
How do you pronounce “commodity”?
“Commodity” is pronounced kuh-MO-duh-tee (/kəˈmɑdəti/ in IPA).
How do you use “commodity” in a sentence?
Here is “commodity” used in a sentence: “Prices for the commodity spiked after the harvest failed.”
What part of speech is “commodity”?
“Commodity” is a noun.
Where does the word “commodity” come from?
The word “commodity” comes from Latin. From Latin commoditas, "convenience, fitness," from commodus ("suitable"), the same root as commode and accommodate.
Is “commodity” a common word?
“Commodity” is a fairly common word in modern English, usually learned at around the C2 level.
How many meanings does “commodity” have?
“Commodity” has 2 distinct senses listed in this dictionary. The most common is: a raw material or basic good that is bought and sold in bulk, such as oil, wheat, or gold.
What is the difference between a commodity and a product?
A commodity is typically a raw material or basic good, such as oil, wheat, or gold, that is bought and sold in bulk and is largely interchangeable regardless of who produced it. A product can be any manufactured or branded item, including ones differentiated by design, features, or brand identity, which commodities usually lack.
What does it mean to say something has become a commodity?
Describing something as having "become a commodity" means it is now treated as an interchangeable, mass-market product rather than something unique or special. This figurative use extends beyond raw materials to any good, service, or even skill that has lost its distinctiveness.
Are commodities always physical raw materials?
No, while the core meaning refers to raw materials or basic goods traded in bulk like oil or gold, the word also extends figuratively to anything useful or valuable that is treated as interchangeable, such as data or attention being called a commodity.
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