Commodities
/kəˈmɒdətiz/
Definitions
A raw material or primary agricultural product that can be bought and sold.
/kəˈmɒdətiz/
Raw materials or primary agricultural products that can be bought and sold.
The price of commodities affects the global economy.
💡 Simply: Imagine a big market where people buy and sell stuff like oil, corn, and gold. These things are commodities—basic goods everyone needs.
👶 For kids: Things we buy and sell, like food or toys.
More Examples
Gold is a precious commodity.
How It's Used
"The price of commodities like oil and wheat fluctuates significantly."
"Investors often hedge against commodity price risk."
From Middle French commodité, from Latin commoditas, from commodus "convenient, suitable".
The word has been used in economic contexts since the 16th century, referencing trade in goods.
Memory tip
Think 'common'dities - things commonly traded.
Word Origin
"convenience, suitability"