Commodities

Part of speech: noun

Pronunciation: /kəˈmɑdətiz/

Definitions

1. Marketable products or raw materials typically traded in bulk, often characterized by their demand in the economy and interchangeability
2. Valuable goods that are produced for exchange rather than consumption, serving as fundamental inputs in various markets
3. Basic goods such as metals, grains, or fuels traded mainly in large quantities and used in industry or commerce

Etymology: "Commodities" is the plural of "commodity", which entered English in the Middle English period, borrowed through Anglo-Norman from the Latin "commoditās". That Latin noun is built from "commodus", meaning "convenient" or "suitable", which joins "com-" (together) with "modus" (measure, manner, due proportion). The original sense was therefore something like "suitability" or "advantage": a thing that fits your needs neatly. The modern meaning of tradable bulk goods grew out of that idea of usefulness and convenience. The word's modern sense of interchangeable, market-priced goods is a later development, and it sits a long way from "convenience". The shift reflects the idea that useful things become items of trade and exchange. "Commodities" is simply the plural form used for multiple such goods.

Synonyms: goods, products, merchandise

Antonyms: services