Commodity

A commodity is a basic, interchangeable, and widely traded product or raw material that is used in commerce and satisfies the needs of consumers or producers. Commodities are typically standardized and uniform in quality, allowing them to be traded on commodity exchanges or markets based on price and supply-demand dynamics. Common examples of commodities include agricultural products (e.g., wheat, corn), energy resources (e.g., oil, natural gas), metals (e.g., gold, silver), and financial instruments (e.g., currencies, futures contracts).