Definition of commodity noun from the Oxford Advanced Learner's Dictionary

commodity

noun

/kəˈmɒdəti/

/kəˈmɑːdəti/

(plural commodities)

(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.
- basic agricultural commodities
Synonyms product
productgoods ▪ commodity ▪ merchandise ▪ produceThese are all words for things that are produced to be sold.
product a thing that is produced or grown, usually to be sold:
to create/develop/launch a new product
goods things that are produced to be sold:
cotton/leather goods
electrical goods
commodity (economics) a product or raw material that can be bought and sold, especially between countries:
rice, flour and other basic commodities
merchandise [U] goods that are bought or sold; things that you can buy that are connected with or advertise a particular event or organization:
official Olympic merchandise
goods or merchandise?Choose goods if the emphasis is on what the product is made of or what it is for: leather/household goods. Choose merchandise if the emphasis is less on the product itself and more on its brand or the fact of buying/selling it.
produce [U] things that have been grown or made, especially things connected with farming:
We sell only fresh local produce.
Patterns
- consumer/industrial products/goods/commodities
- household products/goods
- farm products/produce
- luxury products/goods/commodities
- to sell/market a product/goods/a commodity/merchandise/produce
- to export a product/goods/a commodity/merchandise
- to buy/purchase a product/goods/a commodity/merchandise/produce
Topics Businessc1, Moneyc1
Oxford Collocations Dictionary
adjective
- basic
- important
- primary
- …
verb + commodity
- produce
commodity + noun
- market
- exchange
- futures
- …
phrases
- trade in commodities
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(formal) a thing that is useful or has a useful quality
- Water is a precious commodity that is often taken for granted in the West.
- Time is a very valuable commodity.
Oxford Collocations Dictionary
adjective
- hot
- precious
- valuable
- …
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Word Originlate Middle English: from Old French commodite or Latin commoditas, from commodus ‘convenient’.

See commodity in the Oxford Advanced American DictionarySee commodity in the Oxford Learner's Dictionary of Academic English

Check pronunciation: commodity

Nearby words

dizzy

adjective

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