Commodity: Difference between revisions
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SamVarriano (talk | contribs) (New page: A commodity is an [economic] term for a common good for which there is both supply and demand.) |
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A commodity is | A '''commodity''' is a product that is interchangeable with other products of the same class, such as a bushel of durham wheat. Units of commodities that mean the required basis grade (minimum standard) are treated as completely interchangeable and identical for the purposes of buying and selling. | ||
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Latest revision as of 09:16, 6 November 2020
A commodity is a product that is interchangeable with other products of the same class, such as a bushel of durham wheat. Units of commodities that mean the required basis grade (minimum standard) are treated as completely interchangeable and identical for the purposes of buying and selling.