Definition of Commodity
Commodity
Com·mod·i·ty
Definition/Meaning
(noun)
A good or service that is widely available and interchangeable with others of the same type.
e.g. The company specializes in trading commodities such as oil and gold.
(noun)
a useful or valuable thing or entity;
e.g. Water is a precious commodity that we are grateful to have.
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Quotes
"When you sell on price, you are a commodity. When you sell on value, you are a resource." -- Bob Burg
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