Commodities
Commodities
Commodities (/kəˈmɒdɪtiːz/) are basic goods used in commerce that are interchangeable with other goods of the same type. The term originates from the Latin word "commoditas", meaning "suitability, convenience, advantage".
Commodities are most often used as inputs in the production of other goods or services. The quality of a given commodity may differ slightly, but it is essentially uniform across producers. When they are traded on an exchange, commodities must also meet specified minimum standards, also known as a basis grade.
Types of Commodities
Commodities can be classified into four major categories:
1. Energy: Includes crude oil, heating oil, natural gas and gasoline. 2. Metals: Includes gold, silver, platinum, and copper. 3. Agriculture: Includes corn, beans, rice, wheat, etc. 4. Livestock and Meat: Includes lean hogs, pork bellies, live cattle, and feeder cattle.
Commodity Markets
A commodity market is a physical or virtual marketplace for buying, selling, and trading raw or primary products. There are currently about 50 major commodity markets worldwide that facilitate investment trade in nearly 100 primary commodities.
Commodity Trading
Commodity trading involves the trading of commodities for profit. It can include the trading of physical commodities, such as metals like gold, silver, and copper, or soft commodities like wheat, sugar, rice, and cotton.
See Also
External links
- Medical encyclopedia article on Commodities
- Wikipedia's article - Commodities
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