Difference between revisions of "Commodity"
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More generally, a commodity is any good in a [[competitive]] [[market]]. | More generally, a commodity is any good in a [[competitive]] [[market]]. | ||
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| + | [[Communists]] argue that [[labor]] is a commodity. | ||
[[Category:Economics]] | [[Category:Economics]] | ||
Revision as of 02:26, May 21, 2007
A commodity in economics is a good, such as food, metals or grains, which is interchangeable with similar goods, and which is available in large quantities.
Investors can buy or sell on commodities exchanges using futures contracts.
More generally, a commodity is any good in a competitive market.
Communists argue that labor is a commodity.