Commodity
Pronunciation: /kəˈmɑːdətiː/
Commodity (noun)
- A product like oil or grain that is bought and sold.
- Something useful or valuable that people want.
- An economic resource that can be traded in large quantities.
Examples
- Rice is a staple commodity in many countries.
- Wheat is traded as a commodity on global markets.
Common collocations: staple commodity, trade commodity, valuable commodity, prized commodity, critical commodity