Commodity
Definition
Commodity refers to a raw material or primary agricultural product that can be bought and sold, such as gold, oil, or coffee. It can also mean any useful or valuable item.
Parts of Speech
- Noun
Pronunciation
American English
- IPA Pronunciation: /kəˈmɑːdəti/
- Respelling: kuh-MAH-duh-tee
British English
- IPA Pronunciation: /kəˈmɒdəti/
- Respelling: kuh-MOD-uh-tee
Etymology
The word "commodity" originates from the Latin word "commoditas," meaning "convenience" or "advantage." It came into Old French as "commodité" and was adopted into Middle English during the 15th century, where it evolved to its modern meaning of a marketable product.
Derivatives
- Commodities (noun, plural)
- Commoditize (verb)
- Commoditization (noun)
- Commodious (adjective)
- Commodiously (adverb)
Synonyms
- Product
- Goods
- Merchandise
Antonyms
- None
- None
- None
Usage
The noun "commodity" is most commonly used in economic contexts to refer to raw materials that are traded on international markets, such as oil, natural gas, or metals. For example, "Oil is a valuable commodity in the global market." It can also be used more generally to describe anything that has value or can be exchanged for goods or services.
Related Terms
- Market: A place where goods and services are bought and sold.
- Trade: The action of buying and selling goods and services.
- Economics: The branch of knowledge concerned with the production, consumption, and transfer of wealth.
Detailed Definitions
Noun
- A raw material or primary agricultural product that can be bought and sold: Refers to natural resources or agricultural items that are traded on global markets.
- Example: "Coffee is a major commodity for export in many countries."
- Any useful or valuable item: Refers to anything that is regarded as valuable or useful in some context.
- Example: "In the modern world, information has become a crucial commodity."
commodity
Gold, oil, and grains are examples of commodities traded in global markets.
Coffee is a major commodity for export, with large sacks of beans ready to be shipped from the port.
Oil is a highly traded commodity, often represented by an oil barrel and a line graph.
🇨🇳 Mandarin (Simplified Chinese)
- 商品 (Shāngpǐn) — commodity, merchandise
- IPA Pronunciation: /ʃɑŋ˥˩ pʰin˨˩˦/
- English Respelling: shang-peen
- 原材料 (Yuáncáiliào) — raw material
- IPA Pronunciation: /jwan˨˩˦ t͡saɪ˨˩˦ ljaʊ˨˩˦/
- English Respelling: yuan-tsai-liao
🇮🇳 Hindi
- माल (Māl) — commodity, goods
- IPA Pronunciation: /maːl/
- English Respelling: maal
🇪🇸 Spanish
- Mercancía — merchandise, commodity
- IPA Pronunciation: /merkanˈθia/ (Spain), /merkanˈsia/ (Latin America)
- English Respelling: mer-kan-thee-ah (Spain), mer-kan-see-ah (Latin America)
- Producto básico — basic product
- IPA Pronunciation: /proˈdukto ˈbasiko/
- English Respelling: proh-duhk-toh bah-see-koh
🇫🇷 French
- Marchandise — merchandise, commodity
- IPA Pronunciation: /maʁʃɑ̃diz/
- English Respelling: marshan-deez
- Produit — product
- IPA Pronunciation: /pʁɔdɥi/
- English Respelling: pro-duy
🇦🇪 Modern Standard Arabic
- سلعة (Sila‘ah) — commodity, merchandise
- IPA Pronunciation: /siːlaʕa/
- English Respelling: see-lah-a
🇧🇩 Bengali
- পন্য (Pônya) — goods, commodity
- IPA Pronunciation: /pɔɲa/
- English Respelling: pohn-ya
🇷🇺 Russian
- Товар (Tovar) — commodity, goods
- IPA Pronunciation: /tɐˈvar/
- English Respelling: to-var
- Сырьё (Syr'yo) — raw material
- IPA Pronunciation: /sɨˈrʲjo/
- English Respelling: sihr-yo
🇵🇹 Portuguese
- Mercadoria — commodity, merchandise
- IPA Pronunciation: /mɨʁkɐˈdoɾiɐ/
- English Respelling: mer-kah-dor-ree-ah
- Produto — product
- IPA Pronunciation: /pɾoˈdutu/
- English Respelling: proh-doo-too
🇮🇩 Indonesian
- Barang dagangan — commodity, merchandise
- IPA Pronunciation: /ˈbaraŋ dagaŋan/
- English Respelling: bah-rang dah-gahng-an
- Produk — product
- IPA Pronunciation: /ˈproduk/
- English Respelling: proh-duk
🇩🇪 German
- Ware — goods, commodity
- IPA Pronunciation: /vaːrə/
- English Respelling: vah-reh
- Rohstoff — raw material
- IPA Pronunciation: /ˈʁoːʃtɔf/
- English Respelling: roh-shtof
🇯🇵 Japanese
- 商品 (Shōhin) — product, commodity
- IPA Pronunciation: /ʃoːhĩn/
- English Respelling: sho-heen
- 原料 (Genryō) — raw material
- IPA Pronunciation: /genɾʲoː/
- English Respelling: gen-ryo
🇻🇳 Vietnamese
- Hàng hóa — commodity, goods
- IPA Pronunciation: /haːŋ˧˧ hwaː˧˧/
- English Respelling: hang hwah
- Nguyên liệu — raw material
- IPA Pronunciation: /ŋwiən˧˧ ljew˧˧/
- English Respelling: nguyen lyew
🇰🇷 Korean
- 상품 (Sangpum) — Product or goods
- IPA Pronunciation: /saŋ.pʰum/
- English Respelling: sang-poom
🇹🇷 Turkish
- Emtia — Commodity
- IPA Pronunciation: /em'tia/
- English Respelling: em-tee-ah
- Mal — Goods or property
- IPA Pronunciation: /mal/
- English Respelling: mahl
🇵🇰 Urdu
- مال (Maal) — Goods or property
- IPA Pronunciation: /maːl/
- English Respelling: maal
- سامان (Samaan) — Goods or items
- IPA Pronunciation: /səmaːn/
- English Respelling: sah-maan
