noun · academic
commodity
UK/kəˈmɒdəti/US/kəˈmɑːdəti/co·MOD·i·ty
Band 6-7task2task1
a raw material or primary agricultural product that can be bought and sold, especially one that is traded internationally
Examples
“Oil is a key commodity that affects global markets.”
“Price volatility in basic commodities can harm developing economies.”
“Traders speculated on agricultural commodities ahead of the harvest.”
Band 8 sentence
“Volatility in commodity markets, particularly in energy and agriculture, poses a long-term risk to food security in low-income countries.”
Collocations
- commodity prices
- trade in commodities
- basic commodity
Word family
commodities noun (plural)commodity market noun phrase
Common mistakes
product→commodity
commodity (uncountable)→commodities
Say it for a higher band
5thing→6goods→7+commodity
Synonyms
goods
Easily confused
product
“The company launched a new product last month.”
Related words
Learn this word with the rest of its set, and get reminded at the right time.
In Shopping & Money
Learn it with its set