Commodity
volume
British pronunciation/kəmˈɒdɪti/
American pronunciation/kəˈmɑdəti/

Definition & Meaning of "commodity"

Commodity
01

(economics) an unprocessed material that can be traded in different exchanges or marketplaces

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Oil has long been a highly valued commodity on the global market, influencing economies and politics.
Due to the increasing health consciousness, organic produce has grown in demand as a commodity in supermarkets.
02

something that is considered to be useful or valuable

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