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Commodities

Raw materials or primary agricultural products that can be bought and sold.

raw materials trading goods

Commodities are raw materials or primary agricultural products that can be bought and sold, typically used as inputs in the production of goods and services.

Etymology

The term 'commodity' comes from the Latin word 'comoditas,' meaning convenience or advantage.

Explain Like I’m 5

Commodities are basic goods like oil, wheat, or coffee that people buy and sell to make other things or use directly.

Fun Facts

Gold is a commodity often used as a store of value
Cocoa beans are the raw ingredient for chocolate
Cotton is one of the most important natural fibers used in clothing

FAQ

What are commodities? Raw materials or primary agricultural products that can be bought and sold
Why are they important? They form the basis of many everyday goods and services
How are commodities traded? Through exchanges and over-the-counter markets

Synonyms — Similar or Related Terms

raw materials primary products

Hypernyms — Broader Categories

goods products

Hyponyms — Specific Examples

oil gold wheat coffee

Holonyms — Wholes or Groups

market economy

Indexes

consumable natural resource

Related

Built by Tim Jones