economy

definition of commodities

The word commodities is a term that comes from the English language, more precisely it corresponds to the plural of the term commodity which in this language is used to refer to the products, merchandise or raw materials.

Meanwhile, the hyper-extended use that is given to this word, especially in the economic and commercial world, has generated that in other languages ​​such as ours it has been adopted and used as its own. It is even a term that we usually hear very frequently in the world's media and not to mention if the country in which you live is a producer par excellence of commodities, in this case, the attention will be special and it will happen that at see the economy tied to these the mention and interest will be recurring ...

Commodities then are products, raw materials. The commodity can be produced by man or it can be present in the nature of a geographical place in very important quantities. In the latter case that we mentioned, we can cite commodities that have a specific use at the time of feeding and the production of food products, such as soybeans, wheat, or corn.

And in another order of commodities but that respond to the same characteristic of being in nature we must mention to oil, to gold.

Now, it is important that we also point out that not all the elements that are found in abundance in nature will be commodities, for example water is not, and this is so because the other essential feature of a commodity is that it must have a utility, of value, in economic terms, to be considered as such. Likewise, the little degree of differentiation is another brand of the commodity, normally the wheat that is harvested in a Latin American country does not present any difference with that that can be harvested in another part of the same continent.

It is worth noting that commodities have a price in dollars, for example, in some places a commodity will appreciate more if the value of the dollar is high, while it also suffers when it falls into consideration.

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