commodity
- 01 B2 Upper Intermediate
a raw material or agricultural product that can be bought and sold, such as copper, coffee, or oil.
a raw material or primary agricultural product that can be bought and sold in large quantities on specialized exchanges.
Simple“The country's economy depends heavily on the export of oil, its main commodity.”
In context“Fluctuations in global commodity prices, particularly for wheat and corn, can have immediate and devastating effects on food security in developing nations.”
UsageOften used in the plural when referring to the market as a whole.
- 02 C1 Advanced
something that is useful or valued.
a useful or valuable thing; often used metaphorically for abstract concepts like time or information.
Simple“In a busy office, silence is a very rare and precious commodity.”
In context“In the digital age, personal data has become a highly sought-after commodity for advertisers and tech giants alike.”
Antonyms - 03 C1 Advanced
a product that is the same no matter who produces it, making it easy to trade.
a mass-produced, unspecialized product that is interchangeable with others of the same type, typically leading to low profit margins.
Simple“The company struggled because their product became a commodity and they had to lower prices.”
In context“As personal computers became a commodity, manufacturers were forced to compete almost exclusively on price rather than unique features.”
SynonymsAntonymsspecialtybranded good
“The commodity price surge matters significantly in supermarkets, but less so in cafes, which are now in the business of selling experiences, rather than drinks.”
“But Suryawanshi’s point is that stories matter: the snow leopard has become a commodity in the way that Everest has, a mountain to be summited.”
From Middle English commoditee, from Anglo-Norman commoditee, from Latin commoditās.
Etymology adapted from Wiktionary, available under CC BY-SA 4.0.