Meaning of commodity

com•mod•i•ty

Pronunciation: (ku-mod'i-tē), [key]
— pl. -ties.
  1. an article of trade or commerce, esp. a product as distinguished from a service.
  2. something of use, advantage, or value.
  3. any unprocessed or partially processed good, as grain, fruits, and vegetables, or precious metals.
  4. a quantity of goods.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.
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