commodity
A raw material or primary agricultural product that can be bought and sold, such as copper, coffee, or oil. In a broader sense, it can refer to any useful or valuable thing that is treated as a tradeable good.
Examples
3 of 5Water is becoming an increasingly scarce commodity in many parts of the world.
Water is becoming a very rare and valuable resource in many regions.
The international trade agreement regulates the export of various agricultural commodities.
The global treaty controls how different farming products are sent to other countries.
In this busy office, a quiet moment is a rare commodity.
In this hectic workplace, having some peace is a very unusual and valued thing.
Antonyms
Word Family
Memory Tip
Think of 'Common-Dity'. It is a 'common' item like corn or oil that is the same no matter who sells it.
Quick Quiz
In the modern digital age, personal data has become a valuable ________ for tech companies.
Correct!
The correct answer is: commodity
Examples
Water is becoming an increasingly scarce commodity in many parts of the world.
everydayWater is becoming a very rare and valuable resource in many regions.
The international trade agreement regulates the export of various agricultural commodities.
formalThe global treaty controls how different farming products are sent to other countries.
In this busy office, a quiet moment is a rare commodity.
informalIn this hectic workplace, having some peace is a very unusual and valued thing.
The price fluctuations of primary commodities often dictate the economic stability of developing nations.
academicThe changing costs of raw materials often control the financial health of growing countries.
Investors are looking to diversify their portfolios by purchasing precious metals and other commodities.
businessInvestors want to spread their risks by buying gold and other tradeable raw materials.
Antonyms
Word Family
Common Collocations
Common Phrases
hot commodity
A person or thing that is currently very popular or in high demand.
precious commodity
Something very valuable, often referring to time or health.
primary commodity
A material in its raw state before processing.
Often Confused With
A product is usually a finished good (like a phone), whereas a commodity is usually a raw material (like gold) that is interchangeable with others of the same type.
In older English, commodity meant convenience, but today it strictly refers to tradeable goods.
Usage Notes
Use 'commodity' when discussing economics, trade, or raw materials. Figuratively, it is used to describe abstract qualities like 'time' or 'patience' when they are seen as limited resources.
Common Mistakes
Learners sometimes use 'commodity' to describe any object they own; however, it specifically refers to things that are bought and sold in bulk or are uniform in quality.
Memory Tip
Think of 'Common-Dity'. It is a 'common' item like corn or oil that is the same no matter who sells it.
Word Origin
Derived from the Latin 'commoditas', meaning fitness, convenience, or advantage.
Grammar Patterns
Cultural Context
In capitalist societies, 'commodification' is a term used to describe the process of turning things not normally considered goods (like art or human labor) into something that can be bought and sold.
Quick Quiz
In the modern digital age, personal data has become a valuable ________ for tech companies.
Correct!
The correct answer is: commodity
Related Words
to
A1Used to indicate the place, person, or thing that someone or something moves toward. It can also mark the recipient of an action or the limit of a range.
and
A1A primary conjunction used to connect words, phrases, or clauses that are grammatically equal. It indicates addition, a sequence of events, or a relationship between two things.
a
A1A word used before a singular noun that is not specific or is being mentioned for the first time. It is used only before words that begin with a consonant sound to indicate one of something.
that
A1This word is a demonstrative pronoun used to indicate a specific person, object, or idea that is further away in space or time from the speaker. It is also used to refer back to something that has already been mentioned or to introduce a clause that identifies something.
I
A1The pronoun 'I' is used by a speaker or writer to refer to themselves as the subject of a verb. It is the first-person singular subject pronoun in English and is always capitalized regardless of its position in a sentence.
for
A1Used to show who is intended to have or use something, or to explain the purpose or reason for an action. It is also frequently used to indicate a specific duration of time.
not
A1A function word used to express negation or denial. It is primarily used to make a sentence or phrase negative, often following an auxiliary verb or the verb 'to be'.
with
A1A preposition used to indicate that people or things are together, in the same place, or performing an action together. It can also describe the instrument used to perform an action or a characteristic that someone or something has.
he
A1A pronoun used to refer to a male person or animal that has already been mentioned or is easily identified. It functions as the subject of a sentence.
you
A1Used to refer to the person or people that the speaker is addressing. It is the second-person pronoun used for both singular and plural subjects and objects.
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