English version

commodity in Economics topic

From Longman Dictionary of Contemporary Englishcommoditycom‧mod‧i‧ty /kəˈmɒdəti $ kəˈmɑː-/ ●○○ noun (plural commodities) [countable]  1 PEa product that is bought and sold agricultural commodities Commodity prices fell sharply.see thesaurus at product2 formalTHING a useful quality or thing Time is a precious commodity.COLLOCATIONSadjectivesan important commodityCrude oil is the world’s most important commodity.an expensive commodityConsumers began to find that they could afford more expensive commodities.a valuable/precious commodityLand is an extremely valuable commodity.a rare/scarce commoditySoap was a scarce commodity during the war.a hot commodity (=one that a lot of people want to buy)Web domains ending in .com became hot commodities.a saleable/tradeable commodity (=one that can be sold or traded)Land is a freely saleable commodity.agricultural commoditiesThe falling prices of agricultural commodities such as coffee have severely affected the economy.industrial commoditiesSales of the old industrial commodities of iron and coal are still important.commodity + NOUNcommodity pricesCommodity prices are very high in the UK.a commodity marketCoffee is facing the deepest crisis in a global commodity market since the great depression of the 30s.
Examples from the Corpus
commodityFood shopping takes time, a commodity of which most of us have precious little.He might want her as a doctor, but as a woman, it seemed, she was a disposable commodity.But divinity is a fragile commodity.Other commodity exchanges said they would keep normal hours.A lighter is a rare commodity here.Most alarmingly, the show suggests that industrialism, valuing commodities above itself, promoted a ghoulish worship of death.Of course many programmes of regional co-operation exist, but unlike oil most Third World commodities are no longer essential to the West.