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Commodity - Wikipedia
In economics, a commodity is an economic good, usually a resource, that specifically has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them. The price of a commodity good is typically determined as a function of its … See more
Commoditization occurs as a goods or services market loses differentiation across its supply base, often by the diffusion of the See more
In the original and simplified sense, commodities were things of value, of uniform quality, that were produced in large quantities by … See more
The inventory of commodities, with low inventories typically leading to more volatile future prices and increasing the risk of a "stockout" (inventory exhaustion). According to economist theorists, companies receive a convenience yield by holding inventories … See more
Characteristics
In economics, the term commodity is used specifically for economic goods that have full or partial but substantial fungibility; that is, the market treats their instances as equivalent or nearly so with no regard to who produced … See moreIn classical political economy and especially in Karl Marx's critique of political economy, a commodity is an object or a good or service ("product" or "activity" ) produced by See more
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