"Commodity is the English term for goods. In the agricultural sector, it is often used for agricultural commodities. The price of a commodity is typically determined as a function of its market as a whole: Well-established physical commodities have actively traded spot and derivative markets. The wide availability of commodities typically results in lower profit margins and reduces the importance of factors (e.g. brand name) other than price.
Most commodities are raw materials, basic resources, agricultural or mining products such as iron ore, sugar or grains such as rice and wheat. Commodities can also be mass-produced, non-specialized products such as chemicals and computer memory. Popular commodities include crude oil, corn and gold."
