commodity
UK: kəˈmɒdəti | US: kəˈmɑːdəti
n. a raw material or primary agricultural product that can be bought and sold
n. something useful or valuable
n. (economics) a standardized good traded in bulk, such as oil or grain
The word "commodity" originates from the Latin commoditas, meaning "convenience" or "advantage," derived from commodus ("suitable" or "proper"). The morpheme com- (together) combines with mod- (measure), reflecting the idea of something measured or balanced for mutual benefit. Over time, it evolved to denote goods traded for profit, emphasizing utility and exchange value. The suffix -ity solidifies its noun form, indicating a state or quality.
Oil is a globally traded commodity.
Clean water has become a scarce commodity in some regions.
The company specializes in agricultural commodities like wheat and corn.
Time is the most precious commodity we have.
Digital storage is now a cheap and abundant commodity.