commodity

{
  "id": "MLC-T-ENV-005774",
  "term": "commodity",
  "field": "Environment",
  "definition": "1. Generally, a physical substance, such as food, grain or metal, that is interchangeable with another product of the same type, and which investors buy or sell. The price of the commodity is subject to supply and demand.\n\n2. A transportable resource product with commercial value; all resource products which are articles of commerce. (C.F.S.)\n\n3. Economic goods, for example, products of agriculture or mining.\n\n4. A commodity, as defined in the Commodity Exchange Act, includes the agricultural commodities enumerated in Section 1a(9) of the Commodity Exchange Act, 7 USC 1a(9), and all other goods and articles, except onions as provided in Public Law 85-839 (7 USC 13-1), a 1958 law that banned futures trading in onions, and all services, rights, and interests in which contracts for future delivery are presently or in the future dealt in; (2) A physical commodity such as an agricultural product or a natural resource as opposed to a financial instrument such as a currency or interest rate. See 7 USC 1a(9)",
  "subject": "Ecosystems",
  "references": [
    "Core Ecosystem Services Research Program Standard Lexicon",
    "USDA Forest Service Wildland Planning Glossary",
    "IRS Placer Mining Industry Training 3147-121 (7-99) TPDS No. 83436E at http://www.irs.gov/pub/irs-mssp/placer.pdf",
    "U.S. Commodity Futures Trading Commission Glossary"
  ],
  "url": "https://mlchart.com/terminology/environment/commodity/"
}