noun

• (business) Anything movable (a good) that is bought and sold.
  "It is with the help of the commodity concept that the mechanism of the market is geared to the various elements of industrial life. Commodities are here empirically defined as objects produced for sale on the market; […]. But labor, land, and money are obviously not commodities; the postulate that anything that is bought and sold must have been produced for sale is emphatically untrue in regard to them."
• (economics) Raw materials, agricultural and other primary products as objects of large-scale trading in specialized exchanges.
  "The price of crude oil is determined in continuous trading between professional players in World's many commodities exchanges."
• (marketing) Undifferentiated goods characterized by a low profit margin and (usually) fungibility, as distinguished from branded products not wholly fungible.
  "Although they were once in the forefront of consumer electronics, the calculators have become a mere commodity."
• (Marxism) Anything which has both a use value and an exchange value.