Commodity

Posted in Finance, Accounting and Economics Terms, Total Reads: 906
Advertisements

Definition: Commodity

A commodity is a tangible good which can be exchanged with another commodity of similar nature. A commodity is a very basic element that goes in production to produce more complex goods and services. Therefore, the quality of a commodity is essentially similar across most of the producers.

Certain commodities which qualify a minimum base grade are also traded on standard exchanges.




Looking for Similar Definitions & Concepts, Search Business Concepts