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commodity

Pronunciation: /kəˈmɒdɪti/

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Definition of commodity

noun (plural commodities)

  • a raw material or primary agricultural product that can be bought and sold, such as copper or coffee: commodities such as copper and coffee [as modifier]:a commodities broker commodity markets
  • a useful or valuable thing:water is a precious commodity

Origin:

late Middle English: from Old French commodite or Latin commoditas, from commodus (see commodious)

commodity in other Oxford dictionaries

Definition of commodity in the US English dictionary