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English definition of “commodity”

commodity

noun [C]
 
 
/kəˈmɒdəti/
STOCK MARKET, FINANCE a substance or a product that can be traded in large quantities, such as oil, metals, grain, coffee, etc.: One big commodity that Canada exports is oil. Higher commodities prices boosted first-quarter profits. agricultural commodities
FINANCE a financial product that can be traded: Returning barren fields to their natural state as wetlands creates a host of "wetland mitigation credits," a commodity the company plans to sell.
NATURAL RESOURCES a thing or a quality that is useful: Water is a very scarce commodity in the region. Fluency in Arabic is a valuable commodity in a job market desperate for Arabic translators.
(Definition of commodity from the Cambridge Business English Dictionary © Cambridge University Press)
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