commodities (B2)

noun

Pronunciation: /kəˈmɒdətiz/

Definition

Basic goods or raw materials that are interchangeable with other goods of the same type, often traded on a large scale.

Examples

• The price of crude oil, a major global commodity, has fallen sharply.

• Agricultural commodities like corn and soybeans are subject to market fluctuations.

• Gold and silver are considered safe-haven commodities during economic uncertainty.

How to Use commodities

commodity market (collocation)

The marketplace where commodities are bought and sold. — "Speculators often trade on the commodity market."

commodity prices (collocation)

The cost at which commodities are traded. — "Fluctuations in commodity prices can impact inflation."

Synonyms of commodities

Words with a similar meaning to commodities:

• goods
• products
• wares
• staples
• raw materials

Antonyms of commodities

Words with the opposite meaning to commodities:

• luxuries
• specialties

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