commodity
Basic trade item
A commodity is a raw material or primary product that can be bought and sold: oil, wheat, copper, coffee.
Because commodities are interchangeable—one barrel of crude is much like another—they're traded on exchanges where price matters more than source.
The word extends to anything treated as fungible or generic: Labor became just another commodity.
When something is commodified, it's reduced to its exchange value.
Things for sale
- merchandiseCommercial products offered
- productManufactured item for sale
- wareMerchandise for purchase
- itemSingle unit or article
stock · export · import · staple · tradable · sellable · marketable · inventory
Replaceable by equivalent items
- interchangeableAble to replace another
- standardizedMade uniform across cases
- homogeneousAlike in composition throughout
- undifferentiatedNot separated into types
substitutable · tradable · commoditization · mass-produced · generic · utilitarian · basic · essential
Cereal crop for flour
- cornCereal grown on cobs
- soybeansProtein-rich Asian legume
- riceStaple cereal grain
- coffeeBrewed bean beverage
cocoa · sugar · cotton · cattle · livestock · pork · orange juice · palm oil
Metal-bearing rock
- mineralsInorganic natural solids
- crudeUnpolished, raw state
- petroleumNatural underground hydrocarbon liquid
- coalCombustible sedimentary rock
timber · lumber · cotton · rubber · grain · copper · iron · gold
Mutual giving and receiving
- tradingExchanging for value
- priceMonetary value assigned
- speculationUnproven theorizing or risky investment
- futuresContracts for future delivery
spot · index · benchmark · volatility · supply · demand · shortage · surplus
Contracts for future delivery
- optionsAvailable courses of action
- derivativesThings derived from another
- hedgingNoncommittal maneuvering
- speculationUnproven theorizing or risky investment
contracts · exchange · trading · index · ETF · portfolio · volatility · liquidity
Element seventy-nine
- silverLustrous white precious metal
- platinumDense precious silvery metal
- palladiumElement forty-six, catalytic metal
- bullionPrecious metal in bulk
ingot · troy ounce · karat · assay · vault · reserve · hedge · safe haven
Slippery viscous fluid
- gasFormless, expanding substance
- petroleumNatural underground hydrocarbon liquid
- coalCombustible sedimentary rock
- uraniumElement ninety-two
electricity · barrel · OPEC · crude · natural gas · heating oil · gasoline · diesel
goods
Things for sale
- merchandiseCommercial products offered
- productManufactured item for sale
- wareMerchandise for purchase
item · stock · export · import · staple · tradable · sellable · marketable · inventory · cargo
fungible
Replaceable by equivalent items
- interchangeableAble to replace another
- standardizedMade uniform across cases
- homogeneousAlike in composition throughout
undifferentiated · substitutable · tradable · commoditization · mass-produced · generic · utilitarian · basic · essential
wheat
Cereal crop for flour
coffee · cocoa · sugar · cotton · cattle · livestock · pork · orange juice · palm oil · crop
ore
Metal-bearing rock
- mineralsInorganic natural solids
- crudeUnpolished, raw state
- petroleumNatural underground hydrocarbon liquid
coal · timber · lumber · cotton · rubber · grain · copper · iron · gold · silver
exchange
Mutual giving and receiving
- tradingExchanging for value
- priceMonetary value assigned
- speculationUnproven theorizing or risky investment
futures · spot · index · benchmark · volatility · supply · demand · shortage · surplus · stockpile
futures
Contracts for future delivery
- optionsAvailable courses of action
- derivativesThings derived from another
- hedgingNoncommittal maneuvering
speculation · contracts · exchange · trading · index · ETF · portfolio · volatility · liquidity · margin
gold
Element seventy-nine
- silverLustrous white precious metal
- platinumDense precious silvery metal
- palladiumElement forty-six, catalytic metal
bullion · ingot · troy ounce · karat · assay · vault · reserve · hedge · safe haven · jewelry
oil
Slippery viscous fluid
- gasFormless, expanding substance
- petroleumNatural underground hydrocarbon liquid
- coalCombustible sedimentary rock
uranium · electricity · barrel · OPEC · crude · natural gas · heating oil · gasoline · diesel · propane
- business termsfranchising, revenue stream, board meeting, gross margin, markdown
- commodity tradingfutures, spot price, traders, trading, buyers
- commercetrade, banking, merchant, imports, sales
- assetsproperty, cash, money, investments, bank accounts
- capitalismcapitalism, free market, free enterprise, private property, profit motive
- financial termswealth, asset, currency, balance sheet, audit
commodityspecialty
Area of expertise
luxury good · one-of-a-kind · collectible · heirloom · signature item
commodityservice
Aid or maintenance
experience · intangible · intellectual property · expertise · digital asset
- commodities marketTrading venue for raw materials
- commodity tradingBuying and selling raw materials
- commodity pricesCost of traded raw goods
- commodity brokerAgent for raw materials
- commodity marketsTrading venues for raw materials
- commodity fetishismObjects veil production relations
commodity fetishism, commodities, commodious, commodiously, incommodious, commodify, commoditize, commodification, commodified