noun, plural commodities.
an article of trade or commerce, especially a product as distinguished from a service.
something of use, advantage, or value.
Stock Exchange. any unprocessed or partially processed good, as grain, fruits, and vegetables, or precious metals.
Obsolete. a quantity of goods.

1375–1425; late Middle English commodite < Anglo-French < Latin commoditās timeliness, convenience, equivalent to commod(us) (see commode) + -itās -ity

noncommodity, adjective, noun, plural noncommodities. Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
commodity (kəˈmɒdɪtɪ)
n , pl -ties
1.  an article of commerce
2.  something of use, advantage, or profit
3.  economics an exchangeable unit of economic wealth, esp a primary product or raw material
4.  obsolete
 a.  a quantity of goods
 b.  convenience or expediency
[C14: from Old French commodité, from Latin commoditās suitability, benefit; see commodious]

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Word Origin & History

1410, from M.Fr. commodité "benefit, profit," from L. commoditatem (nom. commoditas) "fitness, adaptation," from commodus (see commode).
Online Etymology Dictionary, © 2010 Douglas Harper
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American Heritage
Cultural Dictionary

commodity definition

Any product manufactured or grown.

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Example sentences
During that term he was to be the property of his master, and as much a
  commodity of bargain and sale as an ox, or a joint-stool.
Presently the box was returned to her, shut and filled with the precious
The real price of this commodity, therefore, naturally rises in the progress of
The labour of the menial servant, on the contrary, does not fix or realize
  itself in any particular subject or vendible commodity.
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