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commodity In economics, a commodity is a substantially fungible marketable item produced to satisfy wants or needs.〔Karl Marx, "A Contribution to the Critique of Political Economy" contained in the ''Collected Works of Karl Marx and Frederick Engels: Volume 29'' (International Publishers: New York, 1987) p. 269.〕 Economic commodities comprise goods and services.〔Karl Marx, "Outlines of the Critique of Political Economy(Rough Draft of 1857-1857)" contained in the ''Collected Works of Karl Marx and Frederick Engels: Volume 28'' (International Publishers: New York, 1986) p. 80.〕 ==Etymology== The word ''commodity'' came into use in English in the 15th century, from the French ''commodité'', "amenity, convenience". Going further back, the French word derives from the Latin ''commoditas'', meaning "suitability, convenience, advantage". The Latin word ''commodus'' (from which English gets other words including ''commodious'' and ''accommodate'') meant variously "appropriate", "proper measure, time, or condition", and "advantage, benefit".
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