Commodity

The word commodity is a term with distinct meanings in business and in Marxian political economy. For the former, it is a largely homogenous product, whereas for the latter, it refers generically to wares offered for exchange.

Related Topics:
Business - Marxian - Political economy

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Linguistically, the word commodity came into use in English in the 15th century, being derived from the French word "commodité" meaning "benefit, profit", similar in meaning to biens (goods). The Latin root meaning is commoditas, referring variously to the appropriate measure of something; a fitting state, time or condition; a good quality; efficaciousness or propriety; and advantage, or benefit. The German equivalent is die Ware, i.e. wares or goods offered for sale.

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